KRG to Export Oil by New Pipeline ‘Very Soon’

By John Lee.

Ashti Hawrami (pictured), the Natural Resources Minister of the Kurdistan Regional Government, said on Wednesday that Iraqi Kurdistan will start exporting crude oil by pipeline "very soon" after the completion of a new link to the Turkish border by the end of September.

Bloomberg quotes the minister as saying that the pipeline to Fishkabour near the frontier with Turkey, will have a capacity of 1 million bpd by 2015.

He added that Kurdistan is "well on its way" to having enough oil to fill the line’s capacity, with production starting at six more oil fields by the end of the year.

When asked, Hawrami didn’t confirm whether the KRG would be using the Iraqi central government’s export facilities in Fishkabour or building its own.

The Kurdish region is currently exporting 30,000 barrels a day by truck to Turkey. Its oil-production capacity is due to increase to 400,000 barrels a day by the end of the year from a current 300,000 barrels a day, Hawrami said.

(Source: Bloomberg)

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