Kurdistan region is very rich in oil, gas and mineral resources. If it were a country, kurdistan would rank 10th among the largest oilholding sovereigns in the world. Institutional design and capacity to enhance effective governance of oil and gas wealth. Management of oil and gas resources in iraqikurdistan. Ministry of planning kurdistan regional government kurdistan region of iraq 2020.
The outlook for iraqs kurdistan oil production with assistance by elena mazneva, anthony di paola, julian lee, and mikael holter. Its economy, its relations with baghdad, and its own internal politics are all in turmoil. A new strategy for kurdistans oil and gas the kurdistan. The kurdistan regions economy is dominated by the oil industry, agriculture and tourism. Country case study the kurdistan region of iraq oil search.
Erbilhewler, kurdistan region iraq, dor organization for kurdistan oil and gas information has recently published a report about kurdistan regions oil and gas sector and announced that kurdistan region is the worlds 8th in terms of its oil and gas reserves, and that it will be last place in the world to run out of oil according to the report the region will export. Read the latest news about kurdistan oil the kurdish project. In turn, these are strongly influenced by its history, both recent and more distant. Thus, we are looking for a high calibre individual to hold the position of civil superintendent at gkpi. Despite the opportunities generated by the oil and gas industries, they may also bring risks of high economic dependence on the oil and gas sector due to krgs failure to diversify the economy away from resource extraction towards productive and sustainable activity, as well as a worsening of the. Iraqs semiautonomous region of kurdistan has for the first time detailed its secretive oil exports operations and said it plans to sell more, whether baghdad likes it. Perspectives on development in the middle east and north africa mena region. The reports also contain profiles of key companies and projects, market analyses, detailed maps of hydrocarbons reserves and historic energy data. Kurdistan crude oils as feedstock for production of. Compromise is key to kurdistan oil recovery the national. According to ministry of natural resources mnr, the produc tion of oil in kurdistan region is expected to grow to reach 2 million.
Scarred by decades of war, sanctions and civil strife, the iraqi oil and gas industry is also one of the most resilient. Oil gas exploration risk in kurdistan region of iraq. Projects in kurdistan region, iraq crescent petroleum. Iraqi kurdistans oil exports are predicted to reach 1 million bpd by 2015, while the region could produce as much as 15 million cubic meters of gas annually. Under the guidance of the kurdistan regional government krg, ministry of natural resources and minister dr. With a whopping 45 billion gallons of kurdistan oil reserves, the iraqikurds hold almost a third of all of iraqs 150 billion gallons of untapped black gold. The commodity has shifted huge amounts of wealth across the world and played a major role in international relations.
Erbil, september 22, 2017 the kurdistan region of iraq has gained renewed attention this month due to a nonbinding independence referendum scheduled for september 25. The area surrounding the kirkuk oil field houses many different regional peoples, including arab, kurdish, and turkoman communities, the latter of which historically represented roughly 8% of iraq. Kurdistan region of iraq upstream summary slides report. New oil and gas discoveries coupled with massive investment in the regions power sector have guaranteed that kurdistan will maintain its position as a developing contributor to the global energy industry for. We are operating with only 40 percent of the funds we used to have before the war with isis started. The kurdish regional constitution within the framework of the iraqi federal constitution. Reshaping kurdistans regional and global footprint. A small region in iraq just became one of the oil markets. The law entered into force upon the assent of president masoud barzani on 9 august. Comeback kurds two years after a disastrous referendum, iraqs.
Kurdistan forces had been there since 2014 when they ousted islamic state militants. Because our oil, gas, and natural resources policy is welldefined and wellknown, we do not deal further. Driving the regions economy is kurdistans gas and oil reserves, estimated respectively at 100200 trillion cubic feet and 45 billion barrels, with possibly another 25 billion potential barrels continue. The announcement came days after iraqi forces took control of the oilrich kirkuk region with further fighting anticipated between iraqi and kurdish pershmerga forces and was widely seen as a vote of. Iraqi kurdistan has worlds 8th oil and gas reserves. A collection of 28 crude oil and 3 oil seep samples from 12 oilfields and 77 extract and recovered samples from 14 oil exploratory wells and 5 outcrops in. Since 1960, output has almost consistently been above the 1millionbopd mark.
Following a series of major discoveries the company is growing quickly. How iraqs kurdish independence referendum could impact. The 1975 algiers agreement between iraq and iran withdrew iranian support for the kurds and their revolt collapsed. These figures would put kurdistan region among the top 10 oil rich regions in the world in the 8th place in the world for oil and gas reserves.
Two years after a disastrous referendum, iraqs kurds are. It produces about 200,000 barrels per day, with 50,000 of that exported to. Gulf keystone petroleum is an independent oil and gas company and leading upstream operator in the kurdistan region of iraq. This contribution helped improve the lives of children in two large refugee camps by funding recreation activities for the younger residents, including art expression, and youth social support services.
Kurdistan region of iraq became one of the active areas for onshore oil and gas exploration in recent years. Despite the kris significant energy potential, it was impossible for international companies to consider investment prior to this date, mostly because of geopolitical. At the same time, kurdistans oil production has also been on the rise over the past decade, with both older discoveries and new fields being brought on stream. The oil and gas law of the kurdistan region applies to. Oil and gas in iraq is significant to iraqs history, modern economy, and. The kurdistan region has plentiful oil and gas reserves. This is an elite unit within the peshmerga, iraqi kurdistan s military force, that is tasked with protecting the regions oil fields.
Kurdistan oil and other natural resources make the land valuable to other actors and countries, and make it difficult for kurds to establish power and economic independence. Beyond oil and gas, the region is rich in minerals such as copper, iron, zinc and limestone. The mnr, in particular, would become the core of the krg s energy policy, according to a logic of centralizing both. A childhood in kurdistan by hiner saleem, a thousand sighs, a thousand revolts. Today, oil and gas provide more than half of the worlds energy needs. Economy in kurdistan region consists of the autonomous economy in kurdistan region in northern iraq. In 2007, dana gas and crescent petroleum entered into agreement with the kurdistan regional government krg, which provided title and exclusive rights to appraise, develop, produce, market, and sell petroleum, including natural gas domestically and for export, from the khor mor and chemchemal fields in the kurdistan region of iraq kri. Baghdad is losing iraqi kurdistan empowered by oil and gas. The kurds could begin supplying the rest of iraq with gas by next year. In spite of the continuing progress made in exploration, drilling, completion and production combined with the improving infrastructure which is expected to allow kurdistan region of iraq to be a significant factor in the oil world there is some challenges face this. Iraqi kurdistan oil and gas outlook atlantic council 1 the kurdistan region of iraq is facing a series of almost unprecedented challenges. Oil and gas industry reports and maps on global oil markets, featuring interviews with key petroleum industry stakeholders, available in hardcopy or pdf.
The company is also planning to build a gas export pipeline in the kurdistan region with a capacity of up to 30 bcm 1. The kurdistan oil and gas law pdf was approved by the kurdistan parliament, on 6 august 2007. The secondlargest producer in opec and the fourthlargest producer worldwide, iraq is an oil and gas powerhouse. With an estimated potential of 45 billion barrels of oil reserves in the krg administered region alone, and gas reserves of about 250 trillion cubic feet. However, whatever the outcome of the vote, the kurdistan regions energy industry is poised for a leap forward in its gas production. Importance and development of the oil and gas industry in. Unraveling the oil geopolitics intertwined in the kurdish. Compromise is key to kurdistan oil recovery there is a possibility to not only save the relations between erbil and baghdad, but also to come to a longterm and sustainable agreement iraqi. Due to relative security and peace in the region and more economically liberal and marketoriented policies, it has a far more developed economy in comparison to other parts of. Rebwar rashed of the economic situation in west asia,in which the recently islamic and since 1921 terrorist state turkey is the only profiteer from the kurdish oil and gas exports to europe and america, righty pleads for direct pipelines from semiautonomous iraqi kurdistan through rojava to the mediterranean.
The authority of the kurdistan regional government over. Gilles valentin, editorinchief of the oil and gas year book, said that 2014 was a remarkable year for the kurdistan region, from completing an export pipeline to facing attacks by isis. Rosnefts iraqi kurdistan oil and gas play angers baghdad. There are major problems concerning the physical ability to deliver oiland eventually gas. Kurdistan regional government, krg ministry of natural resources. The bai hassan and avana oil fields near kirkuk have been shut since october 19 th, keeping at least 275,000.
The oil and gas law of the kurdistan region was enacted in august 2007. For the 7th consecutive year, the premier and largest strategic event in the history of the kurdistan region returns to london. Minister hawrami speaks at launch of the kurdistan oil and. Ashti hawrami, the oil and gas industry in the kurdistan region was soon able to attract the worlds major international operators, starting with exxonmobil in 2011, followed by chevron, gazprom and total one year later. Iraq and kurdistan to collaborate on oil production. In the kurdistan region of 2020, our private sector will take the lead in providing jobs and. The oil and gas police pose for a portrait outside an oil field in kirkuk, iraq. The development of oil and gas reserves in the autonomous kurdish region of iraq kri is a recent phenomenon which began after the 2003 u.
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