Chevron is farming out stakes in its operated Sarta and Qara Dagh blocks in Iraqi
Kurdistan to London-listed Genel Energy, already a major player in the semiautonomous
region. Genel will acquire 30% WI in the Sarta license by paying half of the field development
costs until an unspecified production target is reached. Chevron will retain
an operated 50% WI, and the Kurdistan Regional Government will hold
the remaining 20%. Genel expects to spend ~$60 million at Sarta up to
the......
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