Russian oil companies looking for production-sharing in Iraq.

(From BBC Monitoring International Reports)

Moscow, 10 December: Zarubezhneft and Rosneft are jointly preparing documents for the signing of a contract to develop the Nahr Umr oil field in Iraq.

Zarubezhneft General Director Nikolay Tokarev said in an interview with the newspaper Vremya Novostey, published on Tuesday [10 December], that the basic conditions for working in Iraq are "a hybrid of a production sharing agreement (PSA) and a buy-back agreement" (when payment for equipment and work is made using the oil produced - Interfax).

However, Tokarev did not rule out that the Russian companies and the Iraqis might reach agreement on a PSA.

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