Hurriyet Daily News
Genel Energy, Anglo-Turkish oil and gas independent, has announced that
it has discovered new commercial oil reserves in northern Iraq.
In
a written statement yesterday, Genel Energy confirmed the existence of a
commercial oil discovery in the Ber Bahr 1 exploration well in the
Kurdistan Region of Iraq (KRG).
“The Ber Bahr well adds a
further commercial oil discovery to Genel’s already significant KRI
resource base,” the statement said. The company plans to begin a phased
development of the field in the second half of this year. Genel Energy
holds a 40 percent working interest in Ber Bahr. Gulf Keystone Petroleum
Ltd holds a 40 percent working interest and the KRG holds the remaining
20 percent interest.
Genel Energy now operates in seven sites in
the KRG, including Chia Surkh, Dohuk, Miran, Bina Bawi, Taq Taq, and
Kewa Chirmila. However, there is a long-running dispute between the
central government in Baghdad and the autonomous KRG over how to develop
the country’s resources.
Source: http://www.hurriyetdailynews.com/anglo-turkish-company-discovers-new-oil-in-krg.aspx?pageID=238&nID=47921&NewsCatID=348
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