Fifth discovery of huge amounts of oil in Kurdistan

5-31-13 Almada Press: The company announced a thousand British oil Keystone, on Friday, the discovery of “encouraging commercial quantities” of oil in a field that invested in the Kurdistan region, stressing that the discovery is important for the company, which “tends to become one of the oil-producing companies” in the region.

The director of operations for the company as a thousand Keystone British John Gristinlor in a story carried by the newspaper Express British and seen it, (range Press), “The discovery of oil in the field wells Sea region of Iraqi Kurdistan is a discovery is another important a discovery fifth in patches the four company owns shares in which . ”

He Gristinlor that “after a series of drilling operations test, we are planning to start phase of the implementation of the development processes in the field during the second half of the year,” pointing out that “this discovery came at an important time for the company as it moves to become one of the companies producing oil in the region.”

The two companies Genel Energy English, Turkish and British Keystone possess 40% of the shares in the well field Sea region of Iraqi Kurdistan, while the provincial government owns the remaining 60%.

The Korean National Oil Company announced in the government (27 March 2013), detectable quantities of “huge” of oil in the field Hawler Kurdistan Region of Iraq, indicating that the test drilling operations have shown the possibility of achieving the production rate of up to 10 thousand barrels per day.

As announced OMV Austrian Energy, on Thursday, (April 4, 2013) the discovery of “commercial quantities encouraging” of oil in one of the fields that you invested in the Kurdistan region, and showed that it referred the authorization to declare quantities business to the Kurdistan Regional Government, after nine days of announcement similar to the Korean National Oil Company government, which enhances the region’s position as a magnet for international energy companies.

The Ministry of Mineral Resources of the Kurdistan Regional Government has announced the beginning of June 2012 the past, seeking to increase its crude oil production to one million barrels per day by 2015, stressing that there are plans to double production to two million barrels by 2019.

Noteworthy that many of the major oil companies and gas companies, including Exxon Mobil, Shell, Chevron, Total and Gazprom Russian, but not limited to (there are more than 40 companies from 17 countries working in the oil sector of Kurdistan), has entered into contracts for the exploration and production of oil and gas with the Regional Government Kurdistan, which has raised objection to the federal government.

Oil and needling file Kurdistan federal government in Baghdad, which opposes along the line, Activity region in this regard and prepared contrary to the Constitution, whilst the contrary, based on the territory of the same constitutional reference, in the absence of the enactment of the federal oil and gas yet.

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