July 18, 2012. Chevron Corp is buying control of two blocks in Iraq's Kurdistan, as the second-largest U.S. oil company follows larger rival Exxon Mobil Corp into a region where oil rights are a subject of fierce dispute. Chevron's purchase of 80 percent of the Sarta and Rovi blocks from India's Reliance Industries Ltd is a foray into Iraq for the oil company after it was not involved in contracts awarded in Iraq's four licensing rounds. Austria's OMV AG holds the other 20 percent of Sarta/Rovi. Exxon angered Baghdad by signing an exploration deal with the Kurdistan Regional Government in the north, which the central government deemed illegal. Iraq asked U.S. President Barack Obama to stop Exxon from exploring in the autonomous region because it could have dire consequences for the country's stability. The Reliance deal was thought to be worth about $200 million.