Rosneft's Kurdistan Bet Expands as Middle East Footprint Deepens
- Russian company enters production sharing agreements in region
- Producer signed crude-sales deal with Kurds in February
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Rosneft Oil Co. PJSC signed more oil deals with Iraq’s Kurdish region as the state-owned Russian company expands its footprint in the Middle East.
Rosneft and the semi-autonomous Kurdistan Regional Government in Iraq will “develop cooperation in exploration and production,” after they “entered into a number of production sharing agreements,” the Russian company said in a statement on its website Friday. The deal builds on an agreement announced in February for Rosneft’s trading arm to buy Kurdish crude until 2019.