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Oil development
This is an interesting subject, and I want to go into detail here. First I want to start off by looking at the recent big companies that have signed contracts with the KRG and the success the kurds showed in the in the government formation. Estimated 45 billion barrels in the KRG.
Some notable oil companies:
Marathon Oil (American) - http://en.wikipedia.org/wiki/Marathon_Oil
Murphy Oil (American) - http://en.wikipedia.org/wiki/Murphy_Oil
Repsol (Spanish) - http://en.wikipedia.org/wiki/Repsol_YPF
Sinopec (Chinese) - http://en.wikipedia.org/wiki/Sinopec
Along with another 36 smaller to medium oil companies.
What is interesting is that the big companies only invested when the kurds emerged as kingmakers, maliki has practically agreed to the kurds 19 demands one of which was approving of the KRG's oil and gas contacts. Iraq has included 100,000 barrels from the KRG in the countries 2011 budget which means we're not far away from
The technocrats at the Oil and Finance Ministries are expecting the same as they have recently included 100,000 barrels a day in Kurdish exports as part of their estimates for Iraq’s income in the 2011 budget.
http://musingsoniraq.blogspot.com/20...s-in-2011.html
The plan is to increase oil production to 1 million barrels per day by 2013.
Gas developments
Kurdistans gas is estimated to be around 200 TCF, and is planned to be one of the key players in the European pipeline (Nabucco). This year a key player in the Nabucco project RWE a german company signed a contract with the KRG:
RWE Group AG, Germany’s second- largest utility, signed a cooperation agreement with the Kurdistan Regional Government to help develop the Iraqi region’s gas distribution network.
The Essen, Germany-based company will provide assistance with the region’s gas network as well as training local citizens, according to a statement on the Kurdistan government’s website.
“This is a major step forward in our planning,” said Kurdish Prime Minister Barham Salih. “RWE will bring the know- how and insights of one of Europe’s most important gas- distribution companies to Kurdistan.”
Gas from the region is expected to be exported via the Nabucco pipeline to European consumer markets, the statement said. The government expects Kurdistan’s gas reserves to be between 100 trillion and 200 trillion standard cubic feet, according to the region’s minister of natural resources, Ashti Hawrami.
RWE Signs Regional Gas Agreement With Kurdistan to Help Develop Network - Bloomberg
This is an interesting subject, and I want to go into detail here. First I want to start off by looking at the recent big companies that have signed contracts with the KRG and the success the kurds showed in the in the government formation. Estimated 45 billion barrels in the KRG.
Some notable oil companies:
Marathon Oil (American) - http://en.wikipedia.org/wiki/Marathon_Oil
Murphy Oil (American) - http://en.wikipedia.org/wiki/Murphy_Oil
Repsol (Spanish) - http://en.wikipedia.org/wiki/Repsol_YPF
Sinopec (Chinese) - http://en.wikipedia.org/wiki/Sinopec
Along with another 36 smaller to medium oil companies.
What is interesting is that the big companies only invested when the kurds emerged as kingmakers, maliki has practically agreed to the kurds 19 demands one of which was approving of the KRG's oil and gas contacts. Iraq has included 100,000 barrels from the KRG in the countries 2011 budget which means we're not far away from
The technocrats at the Oil and Finance Ministries are expecting the same as they have recently included 100,000 barrels a day in Kurdish exports as part of their estimates for Iraq’s income in the 2011 budget.
http://musingsoniraq.blogspot.com/20...s-in-2011.html
The plan is to increase oil production to 1 million barrels per day by 2013.
Gas developments
Kurdistans gas is estimated to be around 200 TCF, and is planned to be one of the key players in the European pipeline (Nabucco). This year a key player in the Nabucco project RWE a german company signed a contract with the KRG:
RWE Group AG, Germany’s second- largest utility, signed a cooperation agreement with the Kurdistan Regional Government to help develop the Iraqi region’s gas distribution network.
The Essen, Germany-based company will provide assistance with the region’s gas network as well as training local citizens, according to a statement on the Kurdistan government’s website.
“This is a major step forward in our planning,” said Kurdish Prime Minister Barham Salih. “RWE will bring the know- how and insights of one of Europe’s most important gas- distribution companies to Kurdistan.”
Gas from the region is expected to be exported via the Nabucco pipeline to European consumer markets, the statement said. The government expects Kurdistan’s gas reserves to be between 100 trillion and 200 trillion standard cubic feet, according to the region’s minister of natural resources, Ashti Hawrami.
RWE Signs Regional Gas Agreement With Kurdistan to Help Develop Network - Bloomberg