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Arab Energy Fund secures $346m for Iraq oilfield expansion
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Arab Energy Fund secures $346m for Iraq oilfield expansion
The Arab Energy Fund (Taef), formerly known as Apicorp, has secured funding to expand and develop an onshore oilfield in southern Iraq. Taef said in a statement that it had raised $346 million for Kuwait Energy Basra Limited (KEBL), the operator of block 9 in the Faihaa field, to support the next phase of block 9’s development. The financing will allow continued drilling, infrastructure optimisation and enhanced production potential, leading t…
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