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France's Total oil is considering a possible investment in Kurdistan
2012-02-11 14:14:04
BAGHDAD (Iba) ... announced that the French oil company Total SA is considering a possible investment in Kurdistan, to become the latest major oil company to shift its focus in Iraq to the Kurdistan region.
The chief executive of Total, yesterday he was considering a possible investment in Kurdistan, adding that the company does not intend to compete for contracts in the next round of licenses for oil and gas organized by Baghdad.
Said Christophe de Margerie told a news conference to build on what we hear does not seem to conditions of the fourth round of licenses in Iraq is very attractive ... Interest in Kurdistan due to the oil and gas reserves are abundant and to the best contractual terms.
Total confirmed their interest in Kurdistan with the declared earnings growth in 2011 thanks to high oil and gas prices. The company announced plans to enhance the investment budget.
The Paris-based Total, which it will raise capital spending to $ 24 billion in 2012 from $ 20.6 billion in 2011. (End)
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