KNOC Starts Drilling in Kurdistan

摘要

Korea National Oil Corp. (KNOC) has started drilling on schedule in the Kurdish region of northern Iraq. It is working in the Bazian Block in Suleimaniyah, which is estimated to hold up to 1.2 billion bbl of oil.KNOC has 80% of Bazian, one of eight blocks it was awarded by the Kurdistan Regional Government in 2008. A clearer picture of Bazian's commercial potential will emerge by the end of the year, Korea's Ministry of Knowledge Economy said Thursday.