Marathon nabs stakes in four Iraqi oil and gas exploration blocks

Source: Marathon Oil

Marathon Oil Corporation (NYSE:MRO) has acquired a position in four exploration blocks in the Kurdistan Region of Iraq

Marathon has signed production sharing contracts (PSCs) for operatorship and an 80 percent ownership in two open blocks northeast of Erbil -- Harir and Safen. The Kurdistan Regional Government will hold a fully carried 20 percent interest. 

Additionally, Marathon has been assigned working interests (WI) in two blocks north-northwest of Erbil -- Atrush (20 percent WI) and Sarsang (25 percent WI).

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