Hopeful: MPC waiting to ratify a joint venture with IDC in Iraq soon
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MPC in line for Iraq joint venture
UK’s Midmar Energy said today that its associate company, Mesopotamia Petroleum Company (MPC), is in the advanced stages of discussion regarding a joint venture with state-owned Iraq Drilling Company (IDC).
Midmar formed MPC in 2005, with its partners, as an oil and gas company established for the specific purpose of undertaking operations in Iraq. Midmar holds a 32.67% interest.
“We anticipate the formal ratification of our agreements in order to progress our work in Iraq,” said Midmar boss Thomas Redman in a statement.