October 21, 2010 / 9:40 AM / 10 years ago

UPDATE 1-Turkey sees Iraq gas investment at $3.2 bln

* Investment with consortia seen at $3.2 bln

* TPAO part of ventures that won rights to two Iraqi fields

(Updates with further remarks)

ANKARA, Oct 21 (Reuters) - Turkish Energy Minister Taner Yildiz said on Thursday investment in two Iraqi gas fields that were won by ventures that include TPAO, Turkey’s state-run oil company, will be $3.2 billion.

“We will make the investment together with TPAO and the consortia,” Yildiz told reporters at an energy conference, clarifying earlier remarks about Turkey’s investment plans for the fields that it won at a tender on Wednesday.

TPAO led a consortium with Kuwait Energy Company and South Korea’s Kogas (036460.KS) that won an auction to develop the Mansuriyah field near the Iranian border in Diyala province.

Kuwait Energy and TPAO also won the rights to the Siba field in the south.

See [ID:nLDE69J0FQ] for details on the auction, the third bidding round to develop Iraq’s vast hydrocarbon reserves since the 2003 U.S. invasion. (Reporting by Orhan Coskun; Writing by Ayla Jean Yackley)

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