Genel Energy Group, led by former BP chief executive Tony Hayward, is reportedly interested in buying Norwegian oil company DNO and its Kurdish licences.
Mr Hayward was today said to be awaiting the outcome of a potential merger between DNO and RAK Petroleum of the United Arab Emirates.
DNO has produced up to 70,000 barrels of oil per day this year at its Tawke field in Kurdistan, and said earlier this week it had received a permit to explore in Tunisia.
Genel Energy was formed earlier this year after Mr Hayward’s Vallares investment vehicle merged with Turkey’s Genel Enerji. The company is planning acquisitions using £1.3billion of cash.