Petrel Resources’ high hopes for PSA from Saddam-era Iraq oil deal…

Ireland's Petrel Resources expects a production-sharing agreement for a deal it signed with Saddam Hussein for a block in Iraq's western desert, United Press International reports. David Horgan, managing director of Petrel Resources, said the exploration and production deal will give the firm "a net production interest in Block 6 of 25 to 35 percent."

Dana Gas says it's nearly ready to feed natural gas from its northern Iraq field to power plants in Iraq's Kurdistan region, UPI reports. The company, based in the United Arab Emirates, was awarded a service contract for the Kor Mor gas field in April 2007, as well as an agreement to study, along with its partner Crescent Petroleum, overall development of the Kurdistan Regional Government's gas prospects. "We have been honored to work on this project to provide a complete solution of state-of-the-art gas field development, processing and transportation that is urgently required on a fast-track basis for electrical power generation for Iraqi citizens," said Hamid Jafar, Dana Gas executive chairman and Crescent Petroleum's chairman of the board.