Lower oil prices threaten KRG capacity growth

摘要

Investment in exploration in northern Iraq’s semi-independent Kurdistan region, particularly by the smaller foreign operators, could suffer from the fall in oil prices. “The reality of $60/bl might have an impact on exploration,” London-listed independent Genel Energy’s president Mehmet Sepil says. Foreign companies working in Iraqi Kurdistan will incur falling profits or losses, he adds. Genel has reduced its output target for next year to 150,000 b/d from 200,000 b/d, citing technical reservoir issues.