France's Total firm bought 80 % share in the exploration area Baranan in Kurdistan region of Iraq in a boosting step for major French company's position in the region, which has abundant oil reserves.
Total spokesman said that Kurdistan Regional Government will own 20 %.
"Participating in the exploration area was studied when Total entered Kurdistan region in the summer of 2012," Total said in a statement briefed by "Shafaq News".
In the summer of 2012 the French company bought a 35 % stake in the exploration areas in the region which offers more attractive contractual conditions than in the south of the country.
Shafaq News
17 June
