NEWS
Norway - September 14, 2017
Russia’s Rosneft is considering swapping some of its domestic assets for acreage on Norway’s continental shelf, international media reported on Thursday.
The…
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Kurdistan 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.
NEWS
Kurdistan Region of Iraq - August 21, 2023
DNO has restarted production at the Tawke oilfield in the Kurdistan Region of Iraq following a four-month shut in, the Norwegian…
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Interview
- August 17, 2023
Majid Jafar, CEO of Crescent Petroleum, talks to The Energy Year about energy’s key role in socioeconomic development, the…
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NEWS
Kurdistan Region of Iraq - September 16, 2022
TotalEnergies 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…
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NEWS
Kurdistan Region of Iraq - January 21, 2019
Genel 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…
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Kurdistan Region of Iraq - August 07, 2018
Genel 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…
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NEWS
Kurdistan Region of Iraq - July 17, 2018
Output 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…
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NEWS
Kurdistan Region of Iraq - September 08, 2017
DNO has agreed to purchase a 32% net stake and take over operatorship of the Baeshiqa licence in the Kurdistan Region of Iraq from ExxonMobil, the Norwegian company…
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NEWS
Kurdistan Region of Iraq - September 05, 2017
The Kurdistan Region of Iraq is poised for a major spike in natural gas output following a USD 1-billion settlement with the Pearl Petroleum consortium days ago,…
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NEWS
Kurdistan Region of Iraq - September 04, 2017
The Kurdistan Region of Iraq borrowed money from buyers of its oil, including Rosneft, to fund a USD 1-billion remittance to Dana Gas and other members of the Pearl…
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NEWS
Kurdistan Region of Iraq - August 31, 2017
The Kurdistan Regional Government (KRG) has agreed to pay USD 1 billion to the Pearl Petroleum consortium following four years of arbitration, the parties announced on…
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Kurdistan Region of Iraq - August 24, 2017
DNO and Genel Energy have reached separate agreements with the Kurdistan Regional Government (KRG) under which debt will be cleared and oil export payments…
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NEWS
Multinational - August 22, 2017
A consortium led by Rosneft completed the acquisition of India’s second-largest private refiner, Essar Oil, the Russian oil giant announced on Monday.
The…
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NEWS
Kurdistan Region of Iraq - August 01, 2017
A London court ruled in favour of Dana Gas in a USD 14-million arbitration case against the Kurdistan Regional Government, the UAE-based company said on…
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NEWS
Kurdistan Region of Iraq - June 08, 2017
The Kurdistan Regional Government (KRG) is set to hold a vote on independence on September 25, international media quoted high-ranking officials as saying on…
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NEWS
Kurdistan Region of Iraq - June 02, 2017
Rosneft and the Kurdistan Regional Government (KRG) have agreed to deepen their engagement, announcing increased co-operation on exploration and production on…
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