Ministry of Oil: Amendments made to the rehabilitation contract of the ninth exploratory area in Basra

of the ninth exploratory area in Basra province.

The Director General of the contracts and licenses Department , Abdul Mahdi al-Amidi said in a statement received by Shafaq News, that the First Amendment guarantees the sale of 10.% Share of Kuwait Energy Company to the Egyptian Petroleum Authority and thus share KEC become 60% within the wining coalition by the qualification of the exploratory area in the fourth petroleum licenses session.

He added that the second amendment to the contract ensures a long-term program of the well, which was drilled in the exploration area ​​, which is hoped to produce (5) thousand barrels per day as a result , the company's receivables will be determined.

The contract to develop the ninth exploratory area has been won by Kuwait Energy coalition and Oil Dragon within the fourth round of licenses.