Sarta Phase 1A development in the Kurdistan region of Iraq will proceed, reports Genel Energy, a new block partner. Genel acquired a 30% interest in the Sarta production-sharing contract from operator Chevron, which retains 50%. Genel also acquired a 40% interest from Chevron in the Qara Dagh block, which it will operate through a carry arrangement with Chevron retaining 40%.

Source: News