Iraq’s Ministry of Oil is in the process of approving the sale of a 20% stake in Block 10 from Japan’s Inpex to its Russian partner Lukoil. Following the conclusion of the transaction, Lukoil will hold an 80% stake, with Inpex retaining 20%. Block 10 is home to Iraq’s largest discovery in recent years, the Eridu oil field. The partners aim to complete a 30,000 b/d pilot phase by 2025 and to achieve 250,000 b/d by 2028. Inpex had previously been considering exiting the asset entirely, but is evidently now prepared to remain at the development (MEES, 24 November).