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TNK-BP Plans Iraq Office

TNK-BP is seeking to open a representative office in Iraq, a person with knowledge of the plans said.

The board approved the company's plan to open an office last week. The company gained the right to bid for three natural gas areas in Iraq in October. It made its first overseas acquisitions last year, agreeing to buy assets in Vietnam and Venezuela put up for sale by BP.

TNK-BP aims to spend $1 billion on an acquisition abroad, deputy chief executive Maxim Barsky said April 14. The oil company is looking for opportunities in Africa, the Middle East and Latin America.

(Bloomberg)

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