The Iraqi Oil Ministry has signed agreements with companies from
Kuwait, South Korea and Turkey. Under the accords, the companies would
operate in Iraq over the next 20 years to develop fields in the north and
"This is a very important day, and it represents a new beginning for the
oil industry," Iraqi Oil Minister Abdul Karim Al Luaybi said on June 5.
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This would mark the first time a Kuwaiti company has been allowed to
operate in Iraq since the invasion of Saddam Hussein in 1990. In addition to
Kuwait Energy, Turkey's state-owned TPAO and the South Korean Gas Corp. were
assigned to develop the Mansuriya and Siba fields in the provinces of Diyala
and Basra, respectively.