INPEX CORPORATION (INPEX) is pleased to announce today that INPEX has signed a Service Contract with the Iraqi State Oil Compnay (South Oil Company) for the onshore Exploration Block 10 jointly with LUKOIL Overseas Iraq Exploration B.V.(LUKOIL), a subsidiary of LUKOIL, Russian oil company.
INPEX and LUKOIL have been successfully awarded the rights to explore the Exploration Block 10 through the fourth Petroleum Licensing Round held on 31st May 2012 in Iraq. LUKOIL (Operator) holds a 60% participating interest and INPEX holds the remaining 40% participating interest in the Block 10. INPEX and LUKOIL will conduct exploration activities including the minimum work program of a 2D seismic survey of 1,375km and drilling of one exploratory well.
Source: INPEX CORPORATION
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