The first major oil company has moved into Iraqi Kurdistan, a sign that Baghdad may have relaxed its hard-line stance against producers there.
ExxonMobil, the Houston-based giant that operates a field in southern Iraq, has agreed to explore six blocks in the region, according to a communications adviser for the Kurdistan regional government in Erbil.
Kurdistan is dominated by smaller, risk-taking producers rather than majors such as ExxonMobil, who pump oil in Iraq's southern region in part because Baghdad claims the Kurdish contracts are illegitimate and threatens to blacklist companies.
No comments:
Post a Comment