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Kurdistan Oil & Gas Development

A collection of threads on topics that get updated regularly :
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KRG Exports More than 80 Thousand Barrels per day

PostAuthor: alan131210 » Sat Oct 22, 2011 3:37 pm

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Erbil October 22 (PNA) - Kirkuk North Oil Company declared that the exportation of oil in Kurdistan Region oil fields has increased to more than 80 thousand barrels per day.

Soumaria news revealed this information from one of the officials of an official of the company, that he declared that now Kurdistan region is exporting more than 80 thousand barrels per day. The source declared that this will increase to 100 thousand barrels per day.


The source mentioned that the way of exportation of oil would be through Turkish border.


PNA
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KRG Exports More than 80 Thousand Barrels per day

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Bazian Oil refinary

PostAuthor: alan131210 » Wed Nov 02, 2011 5:55 pm

In 2009, Qaiwan & BezhanPet overtook operations of the 20,000 barrel/day Bazian Oil Refinery in the Sulaimaniyah Region, bringing in renowned international expertise to turn it into one of the most efficient refineries in Iraq, operating 24/7 and training its employees to the
highest international standards.

The refinery is currently one of the largest of its kind in the Kurdish region, consistently producing refined petroleum products of the highest order. The company's areas of operation include the refining of crude oil and producing petroleum products in compliance with domestic and international specifications.

Qaiwan is currently in the exciting process of working with Ventech International Projects, Inc. to expand the refinery¹s output to 34,000 barrels/day, a process that has already begun with the engineering procurement phase's planned completion date being November 2011. By the first quarter of 2012, this unit will be in operation, further cementing Qaiwan¹s position in the region as a major player in the field.

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Exxon signs Kurd exploration contracts

PostAuthor: alan131210 » Fri Nov 11, 2011 3:21 pm

By Sylvia Pfeifer, Energy Editor

ExxonMobil has become the first of the “supermajor” oil companies to venture into Kurdistan, in a controversial move that will be seen as a huge vote of confidence in the semi-autonomous region of Iraq but could spark a backlash in Baghdad.
Exxon, the largest international oil company, signed contracts with the Kurdistan Regional Government (KRG) last month to explore for oil and gas in six blocks in the region, according to an adviser to the KRG.


“The KRG has for the last few months been in discussions with a number of major oil companies. This resulted in the recent signing by ExxonMobil of contracts to explore in six blocks,” Michael Howard, an adviser to the KRG, told the Financial Times.
Iraq’s central government has been informed of the agreements, said another person familiar with the situation. ExxonMobil declined to comment.
Independent oil and gas companies, including US players Marathon Oil and Hess, have flocked to Kurdistan in recent years, attracted by its relatively untapped hydrocarbon wealth – the region is estimated to hold 45bn barrels of oil and between 100,000bn-200,000bn cubic feet of gas. Tony Hayward, the former chief executive of BP, recently emerged at the helm of Genel Energy, a Kurdistan-focused player.
Until now, however, the world’s supermajors such as Exxon, BP and Royal Dutch Shell, have held back from signing contracts for fear of antagonising Baghdad, which has said it believes the contracts are illegitimate.
ExxonMobil’s surprise decision could prompt calls from some political factions for the company to lose its position in Iraq. The company led the first US consortium to re-enter Iraq’s oil industry in more than 30 years in 2009 by agreeing to develop the giant West Qurna field. ExxonMobil is also building a multibillion-dollar water injection system that will be used by other foreign oil companies in diferent oil projects in southern Iraq. Oil companies inject water in the reservoirs to increase pressure and production rates.
However, people aware of the agreements said Exxon’s decision to agree contracts with the KRG could prove to be a catalyst for the region. The decision to invest comes just weeks before an end-of- December deadline for the US to withdraw its troops from Iraq.
Expectations have been rising that a long-awaited hydrocarbons law – which would involve the sharing of revenues – could be finalised by year’s end . Iraq’s prime minister, Nouri al-Maliki, and the KRG’s prime minister, Barham Salih, met in Baghdad last month and agreed to either amend a 2007 hydrocarbons law as agreed by all political factions or adopt the 2007 law as is, officials said at the time.
Exports from Kurdistan, which had been stymied amid the disagreement, have begun to flow, albeit slowly. At the moment, Kurdistan exports an average of 175,000 barrels of oil equivalent per day through Iraq’s state oil marketing board. Under a landmark deal negotiated with Baghdad in February, Kurdistan currently receives half of all revenue from the oil it exports. The deal allows producing companies such as Genel Energy, China’s Sinopec and Norway’s DNO, to recoup their investment costs.



The Financial Times Limited 2011
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PostAuthor: alan131210 » Fri Nov 11, 2011 3:22 pm

Exxon Mobil has signed oil and gas exploration deals with Iraq's Kurdistan, becoming the first oil major to deal with the region which has had strained relations with Baghdad, an adviser to the Kurdish government said on Friday.

Reuters
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Exxon deal beckons Kurdistan's advent 11.11.2011

PostAuthor: alan131210 » Fri Nov 11, 2011 4:30 pm

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November 11, 2011

In a game changing oil deals in Kurdistan region, Exxon Mobil has signed a contract for six blocks with Kurdistan Regional Government, reported the FT. There were rumours about a major US oil company circling in Kurdistan region, but expert dismissed any deals because of the danger of being black listed by Baghdad.

What Exxon has done is of immense importance to the KRGs authority and its influence in the region. However, by entering the deal, Exxon will be risking West Qurna contract, which is the jewel in the crown of Iraqi oil fields.
Iraqi officials has told Reuters today that they were aware of the deal, but so far Exxon has not made any comments and senior Iraqi politicians have told Reuters that Exxon has been warned of the consequences. Abdul-Mahdy al-Ameedi, director of the Iraqi oil ministry's contracts and licensing directorate, told Reuters "the government had sent three letters to Exxon Mobil last month warning of dire consequences".

It is not clear if the Exxon deal will exacerbate the existing problems between Baghdad and the KRG. Gauging early reactions and efforts to stop the deals by Iraqi officials, the deal could lead to further confrontation between the central government and the KRG in the coming days. However, challenging Exxon mobile will be a risky strategy for Al Maliki. Moreover the presence of Exxon in KR could mean a balance in power between the two sides and possible breakthrough dealing with diffrances.

The move by Exxon could be part of a deal to harmonise relations between the two sides, but so far there is no deviance of such deals.

Earlier this year wikileals files has revealed that the state department has advised against, US companies investing in Kurdistan region. It emerged that Marathon entered the region despite contrary advice from the US government and the move has given them the advantage of being there early. Nevertheless, the latest Exxon move and the entrants of Hess into the region is an indicator that the advice might have changed, which has its political significances.

It is not yet clear who has instigated the deal, but it is needless to say the announcement has come less than a week before the CWC oil and gas conference in Erbil and while PM,www.ekurd.net Barham Salih has met Iraqi leaders and then US officials in Washington. Salih has been meeting US diplomats for a week now in Washington and it may be that his team and the US office can take some credit for facilitating the deal. Moreover, attracting the largest oil company in the world will also vindicate, Ashti Hawrami, Kurdish Natural resources minister's aggressive oil policy in the region, which has attracted much criticism.

While exploration contracts in Iraq are still not finalised for next year's auction and the terms are yet to be finalised, it appears that oil majors are turning their attention to the more attractive Kurdish PSCs on offer. Baghdad's exploration contracts are not hugely different from its Kurdish PSC counterpart, however the Kurdish contract risk and reward ratio is more balanced and some would say it is in the favour of explorers. The KRG contract gives the operators a higher rate of return and the windfall will be significantly higher from Baghdad contracts if the oil prices stay at the current levels.

Kurdistan has signed over 40 contracts since the fall of Saddam and Exxon is the largest of those companies. The right signals were coming out of Kurdistan when Tony Hayward, ex-BP boss, made his move to the region backed by Nathanial Rothschilds through Vallares investment vehicle. The deal with Genel Energy made Hayward one of the biggest operators in the region.

The Exxon deal comes at a time when interest from investors in Kurdistan region has never been greater. Last week Citi published a report detailing the opportunities in Kurdistan region and it said that based on the US geological survey, the region could hold over 50 billion barrel of oil. Furthermore, Gulfkeystone petroleum has revised up its gross oil in place volume, P90 from 4.9 to 8 billion barrel of oil. With this amount of reserves, Kurdistan would make it to the top 10 list of world oil reserve.

The main sticking points for contracts signed with the KRG is the oil and gas law, the recognition of the contracts by Baghdad and resolving the payment mechanism. Although there are many reports that a deal has been reached on the outstanding issues, nothing concrete has emerged. The differences between Baghdad and KR are still significant and it boils down to the point of who controls oil policy and where. The KRG has made it clear that it won't budge and a beleaguered Iraqi government find it more difficult by the day to exert influence.

The other major issue which faces operators in Kurdistan is the infrastructure limitations. Saraqala block - WesternZagros, Atrush and three other blocks will soon be coming online with a respective production of at least 5000 bopd each. The delivery will have to be carried out overland by vehicles in absence of pipelines. For the time being, the method of delivery will give the companies the cash flow they require in short term but it is not sustainable for lager production.

DNO has diverted a large chunk of its oil production into the local market as oil production from Kurdistan dropped from 180000 to only 50000. The drop was reportedly due to technical problems with northern oil company pipelines but more likely because of none payment from the central government. If the disputes with Baghdad are not resolved soon, others will follow suit and more and more of the Kurdish oil will be trucked and not contribute to the overall Iraqi production.


http://www.ekurd.net/mismas/articles/mi ... est753.htm
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Kurdistan hydrocarbon conference underway

PostAuthor: alan131210 » Sun Nov 13, 2011 1:56 pm

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13/11/2011 14:26

Erbil, Nov. 13 (AKnews) - Hundreds of oil companies have come to Kurdistan Region for the first international conference on Iraqi and Kurdish oil and gas in Erbil.

Iraq Petroleum 2011 Oil & Gas Conference has been arranged by CWC Group in partnership with Iraqi Kurdistan Region Ministry of Natural Resources.

Kurdistan Region Prime Minister Barnham Saleh, the speaker of the Kurdistan Region Parliament Kemal Kirkuki, and Turkish deputy energy minister Yusuf Yazar attended the conference.

The conference will last three days, the participants will discuss methods to develop the oil fields of Iraq and how to attract investors to Kurdistan, David Barbara conference supervisor said.

Saleh said the conference is a clear sign that Kurdistan Region is safe and secure and there are numerous investment opportunities waiting for investors in Kurdistan, especially in oil and gas sector.

He added Kurdistan Region has followed the Iraqi constitution for digging and selling its oil: "We comply with the Iraqi constitution and the steps taken so far were lawful and constitutional."

As for Kurdistan Region's suspended petroleum file, the PM said his government has agreed with Baghdad to develop the Kurdistan oil sector and increase oil exports to 175,000 bpd in 2012.

Later Ashti Hawrami, Kurdistan Region's natural resources minister, said the Kurdish government is currently involved in talks with foreign companies to work in developing its oil fields.

He added his ministry has devised a five-year plan for this purpose, but he did not provide any details.

Reported by Fryad Mohammed

LH/JS/AKnews
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Iraqi Kurdistan oil exports seen at 175,000 bpd in 2012

PostAuthor: alan131210 » Mon Nov 14, 2011 3:23 am

November 13, 2011

ERBIL-Hewlêr, Kurdistan region 'Iraq', — Iraq's semi-autonomous northern Kurdistan region has agreed with the central government to boost the region's crude oil exports to 175,000 barrels per day next year, Kurdish Prime Minister Barham Salih said on Sunday.

Exports from the region, which were restarted in February following a long halt due to a dispute with Baghdad, had reached as high as 160,000 bpd in recent months.

Salih met with Iraqi Prime Minister Nuri al-Maliki in Baghdad recently to discuss oil disputes between the central government and the semi-autonomous northern region. Iraqi officials said the two had agreed during the meeting to work on amendments to a controversial oil law.

"During our recent visit to Baghdad we also agreed that for next year the level of exports should increase to 175,000 barrels per day," Salih
Iraq's Kurdistan PM Barham Salih.
said during a speech at an oil and gas conference in the Kurdish capital, Erbil.

Baghdad and Erbil have longstanding disputes over oil and land. The Kurdistan Regional Government has signed a series of oilfield development deals with foreign companies that the central government considers illegal.

The disputes halted Kurdish exports in late 2009. They resumed in February.

Helge Eide, the chief executive of Norwegian group DNO said he expects to increase crude output capacity at the Kurdish Tawke oilfield to 100,000 bpd in 2012 from about 70,000 bpd now. Actual production at the field is 50,000 bpd.

Iraq exported a total of 2.088 million bpd in October,www.ekurd.net most of it from southern fields. Exports from the northern fields around Kirkuk were about 460,000 bpd.

Iraqi Kurdistan has enjoyed more security compared with the rest of Iraq, which is still struggling with stubborn violence from insurgents and militias more than eight years after the U.S. invasion that toppled Saddam Hussein.

By Serena Chaudhry.

Copyright ©, respective author or news agency, Reuters
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Genel Enerji Plans New Kurdistan-Turkey Pipeline, FT Reports

PostAuthor: alan131210 » Mon Nov 14, 2011 1:32 pm

Genel Enerji AS plans to build a pipeline that will connect its fields in the Kurdish regions in northern Iraq to a port in Turkey on the Mediterranean, the Financial Times reported on Monday. The pipeline will have a capacity to export 400,000 barrels of oil a day, it said, citing Tony Hayward, the former head of BP Plc, who runs the investment company Vallares Plc that has announced an agreement to merge with Genel Energi. bloomberg.com

http://www.ekurd.net/mismas/articles/mi ... al1001.htm
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Prime Minister Salih's speech at oil conference

PostAuthor: alan131210 » Mon Nov 14, 2011 3:17 pm

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Speech by KRG Prime Minister Barham Salih
at the first Oil and Gas Conference in Erbil

Martyr Saad Abdullah Convention Centre
Erbil
13 November 2011

Ladies and Gentlemen

I am truly honoured to welcome you all to the first Oil and Gas conference in Erbil. Not long ago, holding such a conference in Kurdistan was beyond anybody’s dream, it was unimaginable to say, the least. I thank CWC for working to organize this conference and I again welcome you and hope that you will enjoy your time in Erbil and learn about the history of Erbil, its citadel and to learn about the culture of Kurdistan.

Gathering such a distinguished and diverse crowd of businesspersons, investment bankers and industrialists under one roof highlights the new status of Kurdistan as a major economic player internationally and indeed domestically in Iraq as it helps the country as a whole to move forward and progress.

And progress we have achieved. We have seen this wonderful documentary by my good friend Gwynne Roberts, who is also a Welshman. He was with us during those difficult days when my country was being targeted by chemical weapons and the regime in Baghdad under Saddam Hussein was pursuing a vile policy of genocide and ethnic cleansing, much of which was paid for by the oil money. Indeed the challenge for us is to turn oil from the curse it has been to the blessing that we should have.

The progress that you see in Kurdistan today, may be impressive, but it can only be understood in the proper context of the arduous journey that we have embarked on. In the 70s and 80s this was a devastated homeland, this was a devastated wasteland, more than 4,500 villages were totally destroyed by Saddam Hussein’s regime, and Kurdistan was under a trio of economic embargoes, very little of infrastructure, only one university, very few schools, very few hospitals and very few services.

Our economy today is moving on, and is moving forward. And many statistics point to an amazing transformation of Kurdish life, whether it is in the number and quality of universities that we have, the number of schools, the number of hospitals, and GDP per capita income, that I can relay to you, in 2002, according to the World Bank, was about $375 dollars, whereas today our estimates suggest that it is at least $5,500 dollars GDP per capita income. Growth rate in Kurdistan is expected, according to revised estimates next year to be about 12%.

This economy continues to rapidly progress and investment in non-oil sectors alone exceed $16 billion, including Housing, Banking, Tourism, Industry, Agriculture, education, health and others sectors. In 2002, the annual budget of Kurdistan was $100Million. In 2011, we had $10Billion of government expenditure. In 2012, we expect that to rise to $13Billion.

This is significant by any standards, but I think what we aspire to is much more. And I think this country Kurdistan, Iraq are capable to delivering far more opportunities for its own people and indeed for international investors.

In the oil and gas sector we have signed over 45 Production Sharing Contracts for oil exploration, with consortia belonging to 17 different countries – some have already started producing oil. In 2011, we will meet our commitments as stated in the Iraqi national budget to export an average of 100,000 bpd. We have already agreed with Baghdad to increase this to 175,000 bpd for next year.

• In operational terms, we have seen a steady rise in activities in 2011, with seismic and drilling activity increasing as the international oil companies implement their work plans. There have also been a number of new entrants to the market in 2011 and we are pleased that our policies are proving to be the right ones to attract world class companies to invest in Kurdistan. We are pleased with the vote of confidence in our investment-friendly climate and in our security and stability that these contracts represent.

The days when Kurdistan was an isolated economic backwater are over. If our production continues to increase, as we expect it to, Kurdistan could within a few years become a net contributor to the Iraqi budget. The increase in revenues will underpin the acceleration in the country’s economic reconstruction.

In this context, I want to recognise the efforts of our Ministry of Natural Resources, and my good friend; Ashti Hawrami and his team for what they have done to developing our oil resources and putting in place the right policies in the context of our oil and gas law to this effect.

Ladies and Gentlemen:

After the end of tyranny of Saddam Hussein and the liberation of Iraq in 2003, the people of Kurdistan have made a deliberate choice. The choice of living in a pluralistic, federel, democratic, and constitutional Iraq. Kurds have a right to self determination and no kurd will be dissuaded of the commetment to that very basic human and national rights. But we were very deliberate and very serious about commitment to a federal democratic Iraq.

We believe that the era of centralized system of government that invariably ends with dictatorship and tyranny has been proven a total and utter failure in Iraq. We believe federalism is not only good for Kurdistan but it is a safety net, an insurance policy for a united Iraq. And it is also of significance to all the communities of Iraq. It is, therefore, of little surprise to me to see that more and more of our Iraqi compatriots of ours are thinking along the same lines and are looking to Kurdistan for inspiration. They look at Kurdistan as a successful model. And if Kurds can do it through decentralization and federalism, why they should be denied that very basic right enshrined in the constitution. I believe Kurdistan’s advancement, is proving to be a catalyst for a successful democratic and federal Iraq.

The passage of the Kurdistan oil and gas law was a crucial step for the Kurdistan Region. Our law is consistent with Iraq’s federal constitution and creates a modern, investment-friendly and transparent legal framework for the oil industry to work in. Our law is constitutionally valid, endorsed and ratified by an elected legislative body, recognized in the country’s federal constitution. We are in no doubt that it is providing a much-needed contribution to Iraq’s public revenues.

Ladies and Gentlemen:

We are committed to promoting a democratic¡ federal¡ and prosperous Iraq. On the eve of liberation of Iraq, many predicted that Kurdistan will be a source of instability and problems and conflict in the post-Saddam Iraq. In reality, however, Kurdistan emerged as the most stable part of Iraq - a hub of economic activity - and a promoter of regional stability. Kurdistan has emerged as indispensable link of trade and economic cooperation among our neighbours and a gateway to the wider Iraqi market. We have a major stake in a successful and strong Iraq- federal democratic Iraq, and I expect Kurdistan will continue to play an active and important role in Iraq for years to come. We are seeking coordination and cooperation with the federal government in Baghdad to achieve our goals—goals that are in the best interests of all the Iraqi people.

This requires that we work hard with our partners in Baghdad to promote economic prosperity; specifically, it requires us to work hard together to ensure the implementation of the necessary laws and regulations that allow for this objective of prosperity to be achieved, including the ratification and implementation of a new package of hydrocarbon laws.

We remind our colleagues in Baghdad that Kurdistan’s success is a success for the whole of Iraq. Every barrel of oil produced in Kurdistan is added revenue to Iraqi treasury. We affirm our commitment to the Iraqi constitution which stipulates that oil revenues end up with the federal treasury and redistributed in accordance with Iraqi constitution among all the regions of Iraq.

This year we achieved an important arrangement with our colleagues in Baghdad- by which oil produced in Kurdistan was exported and parts of the costs of production were paid to the companies. During my recent visit to Baghdad, we also agreed that for next year the level of exports should increase to 175,000 bpd and also to review the auditing procedures to enable the payments to the companies with less bureaucratic complexities.

We agreed with Prime Minister Maliki to submit the draft oil law of 2007 to parliament before the end of the year. If we can deliver on this, this will be an important step to resolving an important issue of contention in this area, and I believe it will be a major contribution to the political stability and economic prosperity of Iraq.

I know and you know, there are dissenting voices in certain circles in Baghdad- we heard few of them recently. My response is that we should move on. Eight years on from the demise of Saddam Hussein, Iraq’s oil exports are still stagnant and far below what Iraq’s reconstruction needs. Iraq needs to maximize revenues in the shortest possible of time to overcome the legacies of destruction, mismanagement and poverty that the former regime has left us. Once again, I say it to the doubters and dissenters in Baghdad every barrel of oil produced in Kurdistan is added revenue for all the people of Iraq and this should be the focus of our attention.

I also say to our partners in Baghdad very clearly and directly: Kurdistan has a constitutional right to developing its oil resources—and there is no way that we will allow ourselves ever again to be held hostage to the whims of bureaucrats in Baghdad.

That history that Gwen Robert put before you is one that we cannot ignore that easily. The oil revenues of Iraq must be turned from the curse it has been to a blessing for all the people of Iraq and we should be pursuing economic policies that will ensure the best usage of these resources, maximise revenues in the shortest possible time so that Iraqi reconstruction can take on and we can move our country forward.

Ladies and Gentlemen

I am also proud to tell you that our government is committed to transparency. We have recently published all the production sharing contracts, at least 42 of them so far, 3 or 4 that need to be also published very soon. We have enshrined in our contracts a commitment to EITI (the Extractive Industry’s Transparency Initiative) as required by the oil and gas law of Kurdistan. But we will need to ensure also that our development of oil sector and watch for any potential pitfalls, hence rendering it imperative that we strengthen our legal and administrative process to ensure that the international standards we have adopted and remain committed to continue to be effective and so that our investors remain protected.

In Kurdistan, we have a modern investment law that is conducive to economic growth and an internationally commended oil law. Investors must take this opportunity to come to our region and when circumstances permit, expand their ambitions to the rest of Iraq. Our country is rich and diverse. Our diversity is a sign of our strength, and one that we invite investors to come and see for themselves.

From our perspective it is important to diversify. While much attention has been on the exploration and upstream activities, I want to invite you to also be interested in the downstream area. And again, the vision Kurdistan as the stable part of Iraq, an economic hub, a gateway to the rest of Iraq. Your investments in Kurdistan are not investments in the Kurdish market alone, no matter how important that may be, but it is also an investment in the larger Iraqi market.

Another untapped sector in Kurdistan is the mining sector; Kurdistan is one of the richest areas of Iraq for its natural resources; the geological surveys indicate we have large deposits of phosphate, iron, copper, urea and marble to name but few. We will be drawing a road map for these resources, with the aim of utilising them in the interests of our people.

Another investment that we at the KRG are determined to make is in our people; it was the policy of the KRG to develop the human resources of our country and the human capacity in our society. We have an ambitious scholarship program and I commend the oil companies that have invested in education and the building of schools and they helped the universities some of which we have seen during that important documentary that Gwen has produced. At the end of the day the challange for us in the government and the challenge for you, the oil companies, is to ensure that the communities feel the benefits from investment in oil. The more we invest locally, the more we invest in people and improve the quality of life of people, the more support and stake we have from our communities which is most important, and I also dare say this will be what should be held out as an example to the rest of Iraq.

Ladies and Gentlemen

We are in the beginning. As some reporters have recently identified Kurdistan as the last frontier for oil exploration, I dare dream that from the devastation and the destruction and agonies of genocide, we truly can eye a future that is democratic, that is prosperous, a future in which Kurdistan will not be the case of genocide and victimisation of ethnic cleansing but can be a pillar of stability, prosperity, a hub for economic activity, a link among the nations of this part of the world and a gateway to a prosperous democratic Iraq.

Thank you very much Ladies and Gentlemen.

http://www.krg.org/articles/detail.asp? ... &anr=42263
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Taq Taq Oil Field Surface Facilities, Koya

PostAuthor: alan131210 » Tue Nov 15, 2011 6:01 am

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Khormor – Erbil 24” 173 km. Gas Pipeline

PostAuthor: alan131210 » Tue Nov 15, 2011 6:03 am

Client : Crescent Petroleum – NKZ JV
Date of start : December 2007
Date of completion : December 2008
Contract total : 57,000,000 USD

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Re: Kurdistans Oil Development

PostAuthor: brendar » Tue Nov 15, 2011 12:01 pm

i read an article and it stated that Exxon is the worlds number one company for oil production and this will mean alot for us kurds to have business with these companies world wide. =D>
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KRG confirms ExxonMobil contract at oil and gas confernce

PostAuthor: alan131210 » Tue Nov 15, 2011 1:39 pm

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Erbil, Kurdistan Region - Iraq (KRG.org) - The Kurdistan-Iraq Oil and Gas Conference in Erbil heard confirmation that the Kurdistan Regional Government has signed an oil exploration contract with ExxonMobil, the world's largest oil company.

Ashti Hawrami, the minister for natural resources, told the conference that the KRG had signed a contract with ExxonMobil and that the federal government was kept informed throughout the negotiations. He said, "This will make a dynamic change in the region and will lead to mergers and acquisitions." He said that Kurdistan had initially signed contracts with "small and beautiful" companies and was now working with "the giant and magnificent".

In answer to questions from the audience, Dr Hawrami said the ExxonMobil contract was signed on October 18 and involves six exploration areas. "This agreement is good news not just for us but for all Iraq. This is also good news for the industry. It adds more value in terms of expertise and investment," he said.

Dr Hawrami was speaking at the two-day conference which attracted hundreds of industry executives from around the world, including representatives from major oil companies not currently working in the region

The conference was opened by Prime Minister Barham Salih on Sunday and was attended by Kamal Kirkuki, the Speaker of the Kurdistan Parliament, Selahattin Cimen, Turkey's deputy energy minister, and Britain's ambassador to Iraq Michael Aron.
"Not long ago holding such a conference in Kurdistan was beyond a dream," said Dr Salih in his opening speech. He set out the economic deprivation and genocide in Kurdistan over several decades, in contrast with today's economic boom. "The economy today is moving on and moving forward." He said Kurdistan has a major stake in a successful and strong Iraq and that Kurdistan is exercising its constitutional right to develop its resources. "I dare dream that from the devastation and destruction of the genocide we can have a future that's democratic and prosperous."
The prime minister said the KRG and the federal government had agreed that the 2007 draft hydrocarbons law would be used as the basis for discussions on a federal law. He added that it was agreed a draft would be presented to the parliament by the year's end.

Kurdistan's oil and gas sector has taken off in the past few years from a standing start, which has put Kurdistan on the global energy map. The KRG has signed 45 contracts with companies from 17 countries. In 2012, Kurdistan will export 175,000 barrels of oil a day. It will provide electricity to neighbouring provinces in the near future thanks to several gas-powered energy plants.

Dr Hawrami told the conference that the KRG would continue publishing its contracts for the sake of transparency and said he hoped this would become a model for the region.

Dr Hawrami also spoke about pipelines, gas and the important role of Turkey as an energy transportation route to Europe with the possibility of Kurdistan joining the Nabucco pipeline or using an LNG terminal in Ceyhan in Turkey to export gas to Europe. He said the KRG has a target of 1million barrels a day of oil exports via the Kirkuk-Ceyhan pipeline and to increase Kurdistan's oil refining capacity to 300,000 barrels a day.

The conference also heard from Dr Cimen who spoke about Turkey's position in the energy world. Turkey's Genel Enerji was among the first oil companies to enter Kurdistan and is now merging with Vallares, former BP chief executive Tony Hayward's company.

British MP Nadhim Zahawi delivered a message of congratulations to the conference from Britain's energy minister Charles Hendry.

The conference heard discussions on oil and gas services, finance, pipeline and infrastructure plans, the need to hire local labour, projects to support local communities, and plans to export electricity.


http://www.krg.org/articles/detail.asp? ... &anr=42270
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KRG's oil output will reach 1 Million Barrels by 2015

PostAuthor: alan131210 » Sat Nov 19, 2011 11:53 am

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An official from KRG announced that few officials in Baghdad oppose KRG's oil deals and its oil exports .

The official who asked to stayed unnamed told Al Sharqel Awsat : KRG is attempting to rise its oil outputs to 1 million bpd by 2015.

He says baghdad tries to create obstacles for KRG's progress through Sharistani who is not even an oil Ministry.

The official also reveals Baghdad has tries pressuring the big oil companies not to enter Kurdistan but it has failed with this policy.



http://www.nrttv.com/K_Direje.aspx?Jimare=10035
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Consortium sets higher target for Iraq's Kurdistan gas

PostAuthor: alan131210 » Wed Nov 23, 2011 12:31 pm

By April Yee - The National UAE


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Dubai, UAE- November 20, 2011 Majid Jafar, Chief Executive,
Crescent Petroleum gestures during the interview in Dubai. Photo: Satish Kumar/The National.



November 23, 2011

The Sharjah-led consortium that operates the only commercial gasfields in Iraqi Kurdistan plans to expand its production as domestic needs grow and the semi-autonomous region considers exports to Europe.

Crescent Petroleum, a family-controlled company, and Dana Gas, its publicly traded sister company, are leading production at the Kormor and Chemchemal gasfields and have invested US$920 million (Dh3.37 billion) into gas production and processing facilities that now provide enough fuel for 22 hours a day of electricity, a wealth of power compared with the four hours or so a day available in the rest of Iraq.

The companies are planning a second phase to increase gas production and push Kurdistan towards becoming an exporter to international markets.

"We're in discussions with the Kurdistan Regional Government about the next phase of expansion and continual investment," said Majid Jafar, the chief executive of Crescent Petroleum and a Dana Gas board member. "We can move quickly, and the Kurdistan region is developing fast."

Although an international scramble for oil riches in Kurdistan has grabbed the spotlight, the regional government estimates as much as 200 trillion cubic feet of natural gas reserves could lie under the surface of this undeveloped region in the north of Iraq. Kurdistan is reserving tranches there for its domestic power needs and yet-to-be-built power plants in Kirkuk, Mosul and Salahuddin in central Iraq - but after that, it wants to begin exporting to Europe, or beyond.

"We need to monetise the value of this gas," Ashti Hawrami, Kurdistan's oil minister, told energy executives in Erbil last week.

Plans include exporting the gas via the Nabucco pipeline linking Turkey with Austria, or a pipeline connecting Kurdistan to the Turkish port of Ceyhan, where it would be converted to a liquid that could be exported by tanker.

The consortium, which includes Hungary's MOL and Austria's OMV as minority investors with 10 per cent each, processes about 300 million cu ft of gas a day. Mr Jafar is optimistic about increasing that and said oil explorers in the region had approached his company about managing the gas they find in the course of crude production, although none are yet at commercial volumes. He declined to put a number to the consortium's ultimate targets.

Companies from the region have a unique role to play in the Iraqi energy sector, according to Mr Jafar.

"Because of the risk profile in Iraq, now we really feel that investors from the region - and there's a lot of capital in the region - are not only welcomed, but are better able to manage the risks than western companies, who see a lot more risk potentially," he said.

"We're seeing that already in the Kurdistan region and in other parts of Iraq the investment ties within the region, particularly the GCC, are happening much quicker than [with] big western conglomerates."

Copyright ©, respective author or news agency, thenational.ae
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