KEC has agreed to farmout a 15% interest in block 9, Â 893 sq km in Basra, S. Iraq, to Dragon Oil. This comprises 8.57% for USD 100 MM cash and 6.43%in settlement of a dispute with Dragon, related to a non-controlling interest in the block. The deal is subject to govt + partner approvals. Resulting partnership will be KEC (op) 45%, Dragon 45%, EGPC 10%.  
Dragon Oil (->45%) has taken a15% stake from Kuwait Energy (->45% op. EGPC 10%) in Block 9 for US$100 MM.