The latest news from Kurdistan – security updates, reconstruction and more – brought to you by Iraq Business News.
A new age is dawning over oil in Iraq, as this week sees several important steps made towards agreement between two powerful political centers. Kurdistan, the semi-autonomous territory in Iraq, has agreed to keep exports steady at 140,000bpd and then raise them to 200,000bpd by the end of the year, according to Reuters. We wrote this […]
The central government of Iraq has agreed to pay the oil companies operating in Kurdistan, the northern, semi-autonomous region of Iraq, and to raise oil production to 200,000 barrels per day. The official Iraqiya TV station announced on Thursday that "A meeting was held between the two Governments to settle the pending issues between both […]
ShaMaran Petroleum Corp has announced results of the Atrush-2 appraisal well (AT-2) drilled 3.1 kilometres to the east and downdip of the Atrush-1 discovery well in the Kurdistan Region of Iraq. The AT-2 well was spudded on 23rd May 2012 and successfully reached the planned total depth of 1750 meters in 49 days. The well […]
Gulf Keystone, an independent oil and gas exploration and production company with operations in the Kurdistan Region of Iraq, today announces its results for the six months ended 30 June 2012. HIGHLIGHTS Operational - to 30 June 2012 and post period end Shaikan (75% working interest; Operator) [Shaikan-2 is pictured.] · 83% increase in gross […]
Afren, one of the 250 biggest companies listed on the London Stock Exchange, in conjunction with operator Hunt Oil, has commenced exploration drilling at the East Simrit prospect located on the Ain Sifni PSC in the Kurdistan region of Iraq. The Simrit-3 well is located approximately 10 km east of the successful Simrit-2 discovery well, […]
As senior politicians in Baghdad get more enraged about oil majors circumventing them to make "illegal" oil deals with Kurdistan in the north of the country, Iraqi newspaper Azzaman believes the oil majors have finally got the message, or have at least started to take it seriously. Just 50 companies have attended an oil expo […]
Oslo-based DNO International has struck more recoverable oil in the northern Kurdistan region of Iraq. The find is at its Benenan-3 well at around 2,000 meters. The company is investigating the discovery further. The find adds to its wells in the Tawke fields, one of which is set to spud in October, which will help […]
By John Lee. Baghdad and Erbil both have too much at stake not to settle their dispute over oil, although they may take a year or so to do it, Genel Energy Chief Executive Tony Hayward (pictured) told Reuters. "The scale of the opportunity for Kurdistan and for Iraq is so large that there will […]
By John Lee. The Kurdistan Regional Government (KRG) has extended its deadline for the federal government to pay the money it says it is due in respect of oil exports to 15th September, after which time it will again halt exports of Kurdish crude. Baghdad, on the other hand, has threatened to trim Erbil's budget […]
By John Lee. Iraq's central government is considering trimming federal budget payments to the country's Kurdistan by more than $3 billion to cover losses it says came from the autonomous region's oil exports, reports Reuters. Ali al-Moussawi, advisor to Prime Minister Nuri al-Maliki, said a committee found losses of more than $3 billion resulting from […]
By John Lee. Iraq's Kurdistan is to continue pumping oil for export until 15th September, extending its deadline for the central government to make disputed payments to companies working in the region. The KRG had halted exports for several months from the start of April over $1.5 billion it said was owed to foreign oil […]
By John Lee. Sterling Energy Plc has announced the following updates in the Sangaw North Production Sharing Contract ("PSC") in Kurdistan: 2D Seismic Acquisition: The acquisition of 2D seismic data in the Sangaw North PSC, which commenced in July, has now been completed. 117 km of data was successfully acquired and is now being processed, […]
