Total inks deal with Marathon in Kurdish region

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Total has become the third supermajor to join the oil industry in the Kurdish region in Iraq, with a farm-in deal for 35 per cent interests in Marathon Oil's Harir and Safen blocks.

In a statement confirming the transaction, Marathon Oil had said that its stake in the blocks will be cut to a 45 per cent working interest.

Marathon will continue to operate Harir and will remain operator for exploration at Safen, with Total handling production and development. The Kurdistan Regional Government continues to have a fully carried 20 per cent interest in each of the blocks.

Story first published: Monday, August 6, 2012, 14:31 [IST]
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