KRG to offer 20 Oil Blocks in new Licensing Round

By Padraig O'Hannelly.

The Kurdistan Regional Government's Minister of Natural Resources, Dr Ashti Hawrami, has announced that 20 new and redrawn oil blocks will become available for bidding in 2017.

Speaking at this week’s Kurdistan-Iraq Oil & Gas Conference in London, arranged by CWC Group, the Minister said that contract terms "will continue to be win-win", adding, "even at an oil price of $30 to $40 dollars per barrel, Kurdistan’s blocks are still viable thanks to the Ceyhan supply route and relatively low production cost.

The licences include several blocks that were previously awarded but have since been relinquished to the Ministry; the boundaries between some of the blocks have also been adjusted.

Comments are closed.