South Korea’s UI Energy takes Kurdish block stakes

摘要

Seoul-South Korea’s UI Energy has taken minority stakes in three oil blocks in Iraq’s northern region of Kurdistan from Turkey’s Genel Enerji for $200 million as part of the Korean company’s plans to expand further into the region. UI already has a 4 stake in the Bazian block as a member of a South Korean consortium led by state-run KNOC, and has now bought a 10 stake in the Miran block, a 5 stake in the Tawke block and a 5 stake in the Duhok block. Combined oil reserves of the three blocks total 8 billion barrels, UI said.