Russia's TNK-BP has made its first step towards exploration and production in Iraq with a new deal with the Iraq Oil Company.

The Financial Times reports that while the specifics of the deal are yet to be pinned down, it marks the company's second move into international oil and gas development, after a Venezuelan partnership last year.

Speaking to the paper, a spokesperson for the joint venture, said it is too early to say which projects the two companies might work on in Iraq.

Maxim Barsky, the company's chief executive in waiting, has insisted that TNK-BP's core focus will be on Russian development. He is due to take the helm in 2011 after completing a six-month training and development course in London.

During the training programme, Mr Barsky will famliarise himself with BP's various upstream operations, before joining the management team in mid-2010 to undertake a senior executive role at TNK-BP.

Getenergy for Russia & CIS, 19th – 20th May 2010 - Moscow