Korean companies discover amount of “massive” oil in Hawler field Kurdistan

Term Press / Baghdad
National Oil Company announced Korean government, on Wednesday, discovered “huge” quantities of oil in the Hawler field Kurdistan Region of Iraq, indicating that the test drilling showed the possibility of achieving a production rate of up to 10 thousand barrels per day.

The company said in a statement issued today, the newspaper reported Korea Herald, and seen by (long-Presse), “The drilling operations conducted in the Hawler oil field in the province of Arbil in northern Iraq by the Coalition Joint operating in the region confirmed the discovery of large quantities of oil , “pointing out that” to give an exact figure on the expected production quantities needs to be a comprehensive study. ”

The company said, as quoted by the newspaper, that “the process of drilling test revealed the expected production rate of up to ten thousand barrels of oil per day.”

Noteworthy that the Korean National Oil Company run by the government owns 15 percent of the share of this oil patch, in Oryx Petroleum Company owns 65 percent and Swiss KRG owns the 20 percent remaining.

The Korean oil company operates as well as in two other projects for oil exploration in the Kurdistan region, two Bazian and Sankao South.

The head of the Kurdistan Regional Government NaÚ†ervan Barzani, announced during the opening of the second conference of oil and gas, in Erbil, in the (third from December 2012 the past), that the reserve which is owned by the region’s oil is about 45 billion barrels of crude oil and more than three trillion cubic meters of natural gas.

The Ministry of Mineral Resources in the Kurdistan Regional Government announced in early June 2012 the past, all efforts to increase its oil production to one million barrels of crude a day by 2015, confirming the existence of plans to double production to two million barrels by 2019.

Noted that many of the major oil and gas companies and international including Exxon Mobil and Shell, Russia’s Gazprom, for example but not limited to (there are more than 40 companies from 17 countries working in the oil sector of Kurdistan), has signed contracts for exploration and production of oil and gas with the Kurdistan Regional Government , which raised objection to the federal government.

And Kurdistan oil haunts the federal government in Baghdad, which opposes all along the line, the activity of the region in this regard and prepared in violation of the Constitution, while the region see the contrary based on the same constitutional reference, in the absence of the enactment of the federal oil and gas so far.