The Kurdish region in northern Iraq has been hailed as one of the last frontier oil territories, but it has recently begun to lose some its allure as the dispute over energy autonomy between Baghdad and Erbil rumbles on.
International oil companies (IOCs) are continuing to pile into Kurdistan, lured by good prospects and favourable contracts. However, established producers are tiring of the endless uncertainty over payments for their hydrocarbons.
On Sunday, the central government released about US$1 billion (Dh3.67bn) to IOCs operating Kurdish assets, bringing relief to the small and mid-sized companies that must cope with the funding shortfall.
No comments:
Post a Comment