S. Korean gas firm signs deal to develop Iraqi oil field

SEOUL, Jan. 28 (Yonhap) -- The state-run Korea Gas Corp. (KOGAS) and its partners
have signed a deal to explore the Badra oil field in Iraq, the company said
Thursday.

An international consortium including KOGAS and Gazprom of Russia has won a
license to develop the Iraqi Badra oil field, which holds reserves of 2.4 billion
barrels.
KOGAS has a 22.5 percent stake in the consortium, while Gazprom holds a 30
percent share and Malaysia's Petronas holds 15 percent. Turkish TPAO holds
another 7.5 percent.
With the deal, KOGAS has secured a total of 20 million barrels over the next 20
years.
sam@yna.co.kr
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