Tony Hayward, who stepped down as BP
Vallares, an acquisition vehicle established by Hayward and financier Nat Rothschild, has agreed in principle a tie-up with Genel Enerji, which owns oil fields in the semi-autonomous Kurdish region of Iraq, and will announce the deal in the coming days, the source said.
The deal expected to net Hayward and his Vallares co-founders millions of pounds.
(Reporting by Tom Bergin. Editing by Chris Wickham and Jane Merriman)