Heritage Finalizes Exit From Kurdistan

 British firm Heritage Oil has left Kurdistan after disposing of its interest in gas there to Anglo-Turkish company Genel.

Heritage, which announced the move in a series of statements over recent months, transferred the 49% stake in the Miran gas field as reyapyment of a loan from Genel.

 Last year the Anglo-Turkish player acquired an initial 26% interest from Heritage for €116 million ($156m).

Genel is now sole operator of the gas block. However its 100% stake will be reduced  to 75% once the Kurdistan Regional Government exercises its right to opt back in.

See also: Turkey Joins With Genel