Total & a Turkish Company Pick Kurdish Oil Blocks

Source: www.gulfoilandgas.com 6/19/2013, Location: Middle East

After negotiations failed to resolve the disputes over oil and land in Iraq, Kurdistan Regional Government (KRG) has given a number of licenses for oil exploration in Kurdistan Region.

An unnamed Turkish company was awarded licenses for six blocks. The company will be given 80 percent stakes in Arbat, Choman and Hindren blocks. Also the company will be given 40 percent stakes in Jabal Kand, Khalakan and Pulkhana blocks.

Total and the Kurdistan Regional Government (KRG) have entered into a production sharing contract for the Baranan (K9) block. According to the agreement, Total has acquired an 80% stake and KRG will own the remaining 20% of the Baranan block.

Chevron also has signed an exploration deal with KRG for Qara Dagh block, which is located southeast of the city of Sulaymaniya. The KRG awarded the oil block to Chevron in January 2013.

On 9 June 2013, Iraqi Prime Minister Nuri al-Maliki visited the Kurdistan region, for the first time in more than two years, aiming to resolve their disputes, but no agreements were reached. The new licenses may anger the Baghdad government.

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