Ashti Hawrami, head of the KRG’s Ministry of Natural Resources (MNR) announced plans to offer 20 exploration blocks to foreign firms during the CWC Kurdistan Iraq Oil Conference on 5 December. This marks a bold attempt to rejuvenate the KRG’s stalled hydrocarbon sector. But the MNR faces an uphill struggle to secure the requisite investor confidence.
Five years ago, Iraqi Kurdistan was one of the most hyped regions on the planet for oil investment. But it’s a different story now. More recently headlines have focused on geological downgrades, relinquishments and the KRG’s struggles to meet payment deadlines. (CONTINUED - 1478 WORDS)
