The Pearl Petroleum joint venture has started legal proceedings against the Kurdistan Regional Government (KRG) in the US in an effort to bolster its pursuit of…
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 MOREThe UAE’s Dana Gas on Thursday said it had recorded an 83% year-on-year increase in quarterly profit to USD 11 million, up from USD 6 million in the first quarter of…
READ MOREAbu Dhabi National Energy Company, commonly referred to as TAQA, on Thursday posted its first quarterly profit in two years on account of higher oil prices.
The…
READ MORENorway’s DNO presented operational updates and financial highlights on Thursday, signalling an intention to fast-track the development of its second field in the…
READ MORETony Hayward will step down as chairman of Genel Energy on June 6, the London-based operator of Kurdistan Region assets announced on Monday.
A successor has already…
READ MOREThe Kurdistan Regional Government’s Ministry of Natural Resources on Wednesday said that crude exports to Turkey’s Ceyhan had been resumed following a two-day…
READ MOREKurdistan Region of Iraq operator Gulf Keystone posted its full-year 2016 results on Thursday, announcing a loss after tax 92% smaller than the previous year.
The…
READ MOREA new oil pipeline to move crude from fields in the Kurdistan Region of Iraq to Turkey is nearing completion, local media wrote on Monday.
The 35-kilometre feeder…
READ MOREGenel Energy on Thursday announced its results for 2016, revealing a widened loss on account of impairment of exploration assets.
Genel saw losses increase from USD…
READ MOREGenel Energy released the results of an updated Competent Person’s Report for the Taq Taq field in the Kurdistan Region of Iraq on Tuesday, revealing a drop in…
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