By John Lee. The Kurdistan Regional Government (KRG) and Iraq's federal government have entered into a new dispute over the legitimacy of two major energy agreements signed with American companies. On 19th May, Kurdistan's Prime Minister Masrour Barzani oversaw the signing of two agreements at the U.S. Chamber of Commerce in Washington, D.C., which the […]
By John Lee. WesternZagros, a privately owned US exploration and production company, has announced its acquisition of the Topkhana block in the Kurdistan Region of Iraq. The acquisition is seen as a strategic milestone in enhancing the Kurdistan Regional Government's (KRG) energy security and electricity provision plans. The company says that when developed alongside its […]
By John Lee. WesternZagros Resources has joined the Association of the Petroleum Industry of Kurdistan (APIKUR), becoming its seventh member. According to a statement from APIKUR: WesternZagros is a privately held American owned company with offices in Calgary, Canada, and in Erbil and Sulaymaniyah in the Kurdistan Region of Iraq. It has invested over $1 […]
By John Lee. WesternZagros Resources has announced its operating and financial results for the second quarter ended June 30, 2016. Commenting on the second quarter results and subsequent events, WesternZagros's Chief Executive Officer Simon Hatfield said: "A significant key milestone was reached with the approval of the Garmian Field Development Plan confirming the commercial potential […]
WesternZagros Receives Approval for Garmian Field Development Plan and Submits Kurdamir Field Development Plan WesternZagros Resources has announced the approval of the Garmian Block Field Development Plan ("FDP") from the Kurdistan Regional Government ("KRG") and the submission of the Kurdamir Block FDP. Garmian Block Field Development Plan Approval WesternZagros and its co-venturer, Gazprom Neft Middle […]
WesternZagros Resources has announced that the transition of operatorship of the Garmian Block in the Kurdistan Region of Iraq ("KRI") from WesternZagros to Gazprom Neft Middle East B.V. was completed effective February 29, 2016. The agreement does not involve any change of working interest in the production license. This transition was made pursuant to the […]
By Simon Kent. WesternZagros Resources has announced that an agreement has been reached with its major shareholder, Crest Energy International to defer the latest first drawdown notice date under the first tranche of its US$200 million unsecured credit facility from the original date of January 1, 2016 to May 1, 2016. The Company felt it […]
WesternZagros Resources has announced its production of light oil in the Kurdistan Region of Iraq averaged approximately 5,000 barrels per day in the third quarter. As previously disclosed, operatorship of the Garmian Block was to transition from WesternZagros to Gazprom Neft Middle East B.V at the end of the exploration period for the block pursuant […]
By John Lee. Shares in WesternZagros Resources Ltd. (TSX VENTURE:WZR) closed 3 percent down on Thursday following the announcement of its operating and financial results for the second quarter ended June 30, 2015. Second quarter production from the Sarqala-1 well averaged 5,427 barrels of oil per day ("bbl/d"). The Sarqala-1 well has produced approximately 1.8 […]
WesternZagros Resources has issued an update in advance of the company's standard second quarter results which are scheduled for release on 13th August, 2015: Garmian Block Second quarter production from the Sarqala-1 well averaged 5,427 barrels of oil per day ("bbl/d). WesternZagros continues, in accordance with the KRG, to supply this production to the domestic […]
By John Lee. WesternZagros Resources has announced its operating and financial results for the fourth quarter and year ended December 31, 2014. WesternZagros achieved several key financial and operational milestones during 2014 and to date, including the commencement of light oil production and sales at an average rate of 5,000 barrels of oil per day […]
By John Lee. Talisman Energy, the Canadian producer being acquired by Spain’s Repsol, has fully impaired its investment in Block K44 in the Kurdistan region of Iraq by $234 million, after determining that future investment in a capital constrained environment was unlikely. The company has an interest in two blocks, Kurdamir and Topkhana, covering in […]
