British oil company sells 26% of Kurdistan oil field to Turkish Co.

Erbil (IraqiNews.com) The British Heritage Oil Company concluded a deal to sell 26% from its investments in Miran Oil field in Kurdistan Region to the Turkish Jnal Jinal Company.

A press statement by the Company cited “The deal will gain the British Heritage Oil Company $ 156 cash as well as $ 294 million as a loan that could be exchanged into shares,” noting that “The deal will be accomplished on August 22.”

On the other hand, the Jinal Energy Company has announced on last August that it “bought an extra share of about 21 % of the Oil excavation in Bina Bawi Oil Field in Kurdistan Region from Hawler Energy Co. for $ 240 million.”

The Bina Bawi license is located close to Taq Taq Oil field run by the Turkish Company.