Thursday, 20 September 2012

Kurdistan looks to awaken giant - The National

Through war and peace, northern Iraq's Kirkuk oilfield - endowed with 10 billion barrels of reserves, equal to half of America's total - has effectively lain fallow.

Proposals have been floated to revive today's anaemic production of 280,000 barrels per day (bpd) but progress has been blocked by a disagreement over whether the federal government or the Kurdistan regional government has rights to the land.

"Years passed and still we are in limbo," says Ali Salhi, the chairman of the oil and economic development council of the Kirkuk governorate. Today, his hopes are buoyed by the success of Kurdistan, which has partnered the world's biggest oil companies in the face of opposition from Baghdad.

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