Basra exploration deal advances
For the first time, international companies will be paid for oil production stemming from Iraq's new generation of exploration contracts.
Ahmed Haider Ahmed, business development manager of Kuwait Energy, drops his offer in a box during the fourth licensing round for exploration blocks at the Oil Ministry's headquarters in Baghdad May 30, 2012. A consortium led by Kuwait Energy secured a deal to explore Block 9, a mainly oil area in southern Basra province. (THAIER AL-SUDANI/Reuters)
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