31 Oct 2022 16:21

Inpex to mull selling stake if Block 10 project in Iraq continues to stall

ABU DHABI. Oct 31 (Interfax) - Japan's Inpex will consider selling its stake in the Block 10 project in Iraq if this project continues to stall, the Japanese company's CEO, Takayuki Ueda, told reporters on the sidelines of the ADIPEC exhibition and conference.

"This is another headache for us because the project is progressing very slowly," he said.

"We are still discussing how to move forward with Iraq's government, but if progress is slow, then one option might be to sell our stake," Ueda said.

He said Russia's Lukoil would have pre-emptive right to buy in that case.