Iraq threatened to blacklist India''s Reliance Industries (RIL) from future oil contracts after the company struck a deal with the Kurdish regional Government for two blocks without Baghdad''s approval. Any company that signs contracts with the Kurdish Regional Government without approval of the central government, they will compromise chances of getting future opportunities in Iraq. Reliance Industries (RIL) had last week signed the contract for the blocks Rovi and Sarta in northern Iraq with the autonomous Kurdish Regional Government (KRG). The blocks, measuring 517 and 607 sq km respectively, have almost 80 per cent oil bearing structure. Reliance is confident of making a discovery soon. RIL paid a signing amount of $15.5-$17.5 million for the blocks.
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