LONDON (Bloomberg) -- Genel Energy Plc, headed by former BP Plc CEO Tony Hayward, signed a deal with Iraq’s Kurdistan to develop two gas fields and agreed to buy OMV AV’s stake in one of them for $150 million. Genel expects the agreement with the Kurdistan Regional Government to develop the Miran and Bina Bawi gas fields to be approved by the end of the year, the London-based company said in a statement today, Nov. 13. It will acquire OMV’s 36% stake in Bina Bawi, paying $20 million at the completion of the deal and the rest once gas production begins, scheduled for 2018.
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Genel to develop Kurdish gas fields for Turkey export
![Genel to develop Kurdish gas fields for Turkey export]()
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