US major Chevron will declare commerciality on its Sarta Block in Iraq's semiautonomous Kurdistan Regional Government (KRG) later this month, industry sources tell International Oil Daily. If the declaration is made, it will be a rare bit of good news for the Kurdish oil sector, which boomed in the 2007-13 period. For the last two years, however, it has been hit by a wave of security challenges, cost overruns, dry holes and community unrest (IOD Apr.10'15). Sarta holds both oil and gas in potential commercial quantities, one source says.
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