Iraq M&A | Pertamina to acquire PETRONAS’ stake in Gharraf

July 4, 2023

In late-June 2023, PETRONAS informed Iraq’s Oil Ministry that it intended to sell its 45% operated stake in the Gharraf oil field in southern Iraq to Indonesia’s Pertamina, after stating in October 2020 that it was considering exiting the project due to low oil prices in Iraq making the project economically unattractive.