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2017-10-20 12:15:00

ROSNEFT IN KURDISTAN

РОСНЕФТЬ В КУРДИСТАНЕ

ROSNEFT - Rosneft and the Government of the Kurdish Autonomous Region of Iraq signed the documents required to put into force Production Sharing Agreements (PSA) with respect to five production blocks located in the Kurdish Autonomous Region. The share of Rosneft Group Subsidiaries in PSA will be 80%, the amount of payments for the projects farm-in and geological information for each of five blocks ranges from 40 mln. USD to 110 mln. USD and may total to 400 mln.USD (incl. 200 mln.USD that can be compensated by oil produced from block), the heads of terms of the agreements and the basic principles of product distribution are similar to the PSA in Iraqi Kurdistan that were signed by other international oil and gas companies.

The parties agreed to implement the geological exploration program and to start pilot production as early as in 2018. In case of success, in 2021 it is planned to start full-field development of the blocks. According to conservative estimates, the total recoverable oil reserves at five blocks may be about 670 million barrels.

The documents were signed in pursuance of the Investment Agreement which was concluded at the St. Petersburg International Economic Forum in 2017.

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Earlier:

 TURKEY NEED IRAQI OIL
2017, September, 29, 12:15:00

TURKEY NEED IRAQI OIL

The government of Turkey said it will deal exclusively with the Iraqi government on oil exports after voters in the semiautonomous Kurdistan Region of Iraq supported independence in a controversial referendum.

 

 IRAQ & KURDISTAN DEAL
2016, September, 1, 18:40:00

IRAQ & KURDISTAN DEAL

Iraqi Prime Minister Haider Jawad Kadhim Al Abadi and his Kurdish counterpart, Nechirvan Barzani, have agreed to split the proposed export volume of 150,000 bopd from Kirkuk’s Baba Gorgor and Khabbaz fields between them. On Tuesday, Kurdish news outlet Rudaw also claimed an agreement on Kirkuk oil had been reached.

 

 KURDISTAN: DOUBLE OIL
2014, August, 20, 18:20:00

KURDISTAN: DOUBLE OIL

Kurds increase pipeline capacity to 200,000 bpd

 

 

 GAZPROM STARTS DRILLING
2014, August, 4, 18:10:00

GAZPROM STARTS DRILLING

Gazprom Neft starts exploratory drilling in Iraq’s Kurdistan region

 

 

 OIL: KURDISTAN'S COURSE
2014, May, 26, 18:35:00

OIL: KURDISTAN'S COURSE

Tanker Carrying Iraqi Kurdistan's Crude Sets New Course for Iraqi Politics

 

 

 IRAQ & KURDISTAN AGREE
2014, April, 23, 18:50:00

IRAQ & KURDISTAN AGREE

Iraq and Kurdistan near pipeline agreement

 

 

 ROSNEFT & EXXON: KURDISTAN OIL
2014, March, 31, 08:30:00

ROSNEFT & EXXON: KURDISTAN OIL

Rosneft Said to Discuss Taking Stake in Exxon Kurdish Blocks

 

 

 

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