Hydrocarbon Exploration Block in Iraq

Context:  Indian government is looking at resuming operations of state-run ONGC Videsh Ltd’s (OVL) hydrocarbon exploration block in Iraq, which has been under force majeure since 2003.

Image Source: BBC

More on News:
  • Block 20’, earlier known as Block 8, is a large on-land exploration block in the Western Desert of Iraq. 
  • OVL had acquired 100% stake in the block by signing the exploration and development contract in November 2000, However, force majeure was declared in 2003 amid security concerns.
    • Force majeure is a contract clause that removes liability for catastrophic events, such as natural disasters and warfare.
About IRAQ:
  • Location: Iraq is located in Western Asia.
  • Borders: Iraq shares borders with several countries:
    • Turkey to the north
    • Iran to the east
    • The Persian Gulf and Kuwait to the southeast
    • Saudi Arabia to the south
    • Jordan to the southwest
    • Syria to the west
  • Capital and Important Cities: The capital and largest city of Iraq is Baghdad.
    • Other important cities in Iraq include: Mosul, Al Basrah, Kirkuk, Al Najaf.
  • Geographical Features: Iraq encompasses various geographical features, including:
    • The Mesopotamian Alluvial Plain
    • The northwestern end of the Zagros mountain range
    • The eastern part of the Syrian Desert
  • Rivers: Two major rivers, the Tigris and Euphrates, flow through Iraq. They converge near the Persian Gulf in the Shatt al-Arab.
  • Climate: Hot arid climate with subtropical influences.
News Source: Livemint

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