Russian oil company starts exploration in Iraq’s Kurdistan | Eurasia Diary -

7 August, Friday

Russian oil company starts exploration in Iraq’s Kurdistan

The company expects the work to take several years.

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Rosneft has started exploration at fields in Iraq’s Kurdistan this year, First Vice President of Russia’s top oil producer Rosneft Eric Liron said in an interview with TASS, adding that the work is expected to continue in 2020 and might take several years.

"Exploration works have been launched this year. Currently the company is carrying out 3D seismic operations at one of the fields and is preparing for drilling of exploration wells. The works will continue in 2020 and will take several years," he said when asked about geological exploration works in Iraqi Kurdistan.

Rosneft and the government of Iraq’s autonomous Kurdistan Region signed a series of agreements on cooperation in the exploration and production of hydrocarbons, including a production sharing agreement regarding five blocks in Iraqi Kurdistan, Batil, Zawita, Qasrok, Harir-Bejil and Darato, in 2017 and 2018. The Russian company is the project operator, holding an 80% stake in the production sharing agreement.

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