Iraq, Pakistani company sign gas dealNovember 5, 2012 - 15:24 AMT PanARMENIAN.Net - Iraq has inked a final deal with a Pakistani company to explore for natural gas in the country's east in the latest move by Baghdad to develop its vast natural resources after decades of war, UN sanctions and neglect, The Associated Press reports. In May, Iraq awarded Pakistan Petroleum the right to explore for gas in the 6,000-square-kilometer (3,730 mile) Block 8 which is shared by Diyala and Wasit provinces. The company will be paid $5.38 for each barrel of oil equivalent. The signing ceremony took place Monday, Nov 5, at the Oil Ministry in Baghdad. The contract is one of four Iraq awarded in the latest bidding round to search for oil and gas. Iraq sits atop of 143.1 billion barrels of proven oil reserves and 126.7 trillion cubic feet of natural gas. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |