Dragon Oil Operations in Iraq

=History=

Dragon Oil invested in Iraq for the first time in 2012.

=Activities and Contracts=

Block 9
In 2012 Dragon Oil participated with a 30% stake in a consortium that won rights to explore in one of the few blocks awarded in Iraq's fourth licensing round. Other partners in the consortium were Kuwait Energy Company (40%) and Turkish TPAO (30%).

According to the UK's Financial Times, this move was part of Dragon's strategy to increase its exploration base, which is concentrated in the Caspian region, with CEO Abdul Jaleel al Khalifa commenting that "entry into Iraq has been under consideration for some time and so represents a strategic move for Dragon”. Geologists believe that Block 9, awarded to the consortium, could include part of the large Azadegan oilfield in neighbouring Iran.

=References=