Despite its proximity to ex-Islamic State territory, an ill-fated independence referendum last September, and Baghdad’s subsequent retaking of disputed territories (including the strategic city of Kirkuk), Iraqi Kurdistan’s oil and gas sector continues to edge forward. Bolstered by higher oil prices, investment is even looking up in 2018.
Norwegian independent DNO, operator of the Tawke license and the autonomous region’s largest producer, on 26 April announced an “expansion and acceleration of operations” in the KRG on the back of “robust” Q1 revenues of $142mn —up from $77mn a year earlier (the vast bulk is from the KRG which accounted for 96% of 2017 output, MEES, 23 February). (CONTINUED - 795 WORDS)
