LONDON (Thomson Financial) - Mesopotamia Petroleum Co, owned 32.7 percent by
Ramco Energy Plc, is in advanced discussions regarding a possible joint venture
with Iraq's state-owned Iraqi Drilling Co, Ramco said in a statement.
"Ramco confirms that Mesopotamia Petroleum has been in talks concerning the
establishment of a joint venture to provide oil services with Iraqi Drilling Co,
under a mandate from Iraq's Ministry of Oil, for some considerable time and
these have reached an advanced stage," it said.
Terms of the joint venture agreement are still being finalised and will
require the approval of the Iraqi authorities.
Midmar Energy Ltd, the UK oil group which owns 32.7 percent of Mesopotamia
Petroleum, said it looks forward to working with the Iraqi Drilling Co.
"We anticipate the formal ratification of our agreements in order to
progress our work in Iraq," it said.
monicca.egoy@thomsonreuters.com
mbe
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