Iraq’s Kurdistan Regional Government (KRG) announced on Monday that it would give some of its revenue derived from crude oil to international oil companies. The move…
READ MOREKurdistan Region of Iraq's Energy Industry
in figures
Oil reserves45 billion barrels
Oil production 450,000 bopd
Gas reserves25 tcm
Gas production1.88 bcm
Kurdistan Region of Iraq: New Alliances
Kurdistan Region of Iraq’s oil and gas industry was late to take off, despite discoveries in the region beginning in the 1920s. However, the region was highly successful at attracting major IOCs the mid-2000s, including ExxonMobil, Chevron, Gazprom, Dana Gas and TotalEnergies. The Kurdistan Region of Iraq is an autonomous region of Iraq, although it held a unilateral independence vote in 2017 to mixed international reception. Throughout political upheaval and war it has remained steadfast in its payments to operators, underlining the nation’s resilience.
The region’s hydrocarbons industry is overseen by the Ministry of Natural Resources, which is independent from Baghdad’s Ministry of Oil. However, the country continues to struggle with its independent oil and gas law, which has been defined as unconstitutional by Iraq’s capital and lacks support from the national budget.
Heavy sour crude produced in Kurdistan Region of Iraq (KRI) began to be exported to the Ceyhan terminal in Turkey in 2014 through the KRG’s main pipeline that begins in the Kirkuk region and the DNO-Tawke pipeline. Further gas pipeline infrastructure has been planned to support the region’s planned rise in production.
The KRI requires investment to build up its power generation capacity to support a growing oil and gas industry, which remains the largest industrial consumer of energy.
DNO has restarted production at the Tawke oilfield in the Kurdistan Region of Iraq following a four-month shut in, the Norwegian…
READ MOREMajid Jafar, CEO of Crescent Petroleum, talks to The Energy Year about energy’s key role in socioeconomic development, the…
READ MORETotalEnergies has sold its 18% share in the onshore Sarsang oilfield in the Kurdistan Region of Iraq to Canadian independent ShaMaran Petroleum Corp. for USD 155…
READ MOREGenel Energy has agreed to acquire stakes in two Kurdistan Region of Iraq blocks, the company announced on Monday.
Genel will acquire from Chevron a 40% operating…
READ MOREGenel Energy has outlined plans to develop the Bina Bawi and Miran fields in the Kurdistan Region of Iraq, the company announced in its H1 results on Tuesday.
“The…
READ MOREOutput from Peshkabir field in the Kurdistan Region of Iraq has increased by 67% to 25,000 bopd after the Peshkabir-4 well was put on production, operator DNO announced…
READ MOREGenel Energy’s Tony Hayward has stepped down from his position as CEO, in favour of acting as chairman for the London-listed exploration and production company. The…
READ MOREDana Gas says it has won a favourable ruling from a tribunal deciding on its contractual oil and gas rights at two fields in the Kurdistan Region of Iraq.
The UAE…
READ MOREGulf Keystone Petroleum has announced a six-month purchase agreement for oil from its Shaikan operations in the Kurdistan Region of Iraq.
An undisclosed local buyer…
READ MOREMohammed Khudairi, managing partner of the US-Iraqi Khudairi Group, speaks to TOGY about the differences between working in the Kurdistan Region of Iraq and federal…
READ MOREThe president for Emerson Process Management’s Middle East and Africa operations, Dave Tredinnick, discusses the security issues companies face in Iraq, the…
READ MOREThe Kurdistan Region of Iraq received a $455-million budget payment from Baghdad for March, proof the federal government is honouring a deal over the region’s oil…
READ MOREGazprom Neft Middle East will conduct a 2D seismic survey in the Kurdistan Region of Iraq on the southeastern portion of the Halabja block.
The survey will cover 870…
READ MOREOil production at the Tawke oilfield in the Kurdistan region of Iraq will begin increasing this spring, reaching a new capacity of 200,000 barrels of oil per day (bopd)…
READ MOREA consortium led by Abu Dhabi’s national oil company Taqa has witnessed positive results from the Atrush-3 well in the eastern part of the Atrush structure in the…
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