Investment getting back on track in KRG

摘要

Foreign upstream operators in Iraq’s semi-autonomous Kurdish region are reviving investment, spurred by the Kurdistan Regional Government’s (KRG) new payment system. Norwegian independent DNO has stepped up spending at its flagship Tawke oil field in Kurdistan after receiving seven consecutive months of payments, totalling $175mn. Tawke production averaged 119,000 b/d last month. DNO will drill five production wells at Tawke and is targeting production of 135,000 b/d this year.