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Kurdistan Oil & Gas Development

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Re: Kurdistan Oil & Gas Development

PostAuthor: Anthea » Thu Jan 13, 2022 12:25 am

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Increases in gas production

The Sharjah-based Dana Gas company said in a statement on Wednesday that natural gas production in their operations in Kurdistan have jumped by 50% since 2018, an important development which could contribute further to cleaner electricity generation in the region

Alongside Crescent Petroleum, the natural gas company Dana Gas, which operates in the Khor Mor and Chemchemal gas fields in Sulaimani province on behalf of Pearl Consortium, produced 452 million cubic feet of gas per day (MMscf/d) by the end of 2021, compared to 305 MMscf/d in 2018. The companies together produced 16,000 barrels of condensate and 1,000 tonnes of liquefied petroleum gas (LPG) per day.

They have been operating in the Kurdistan Region since the Kurdistan Regional Government (KRG) began producing oil and gas independently of Baghdad in 2007, and selling independently in 2013.

“The production milestone is the culmination of numerous process improvements at the Khor Mor gas plant, including a bypass project completed in 2020 as well as a debottlenecking programme earlier in 2018,” the company said in a statement on Wednesday. “Together, the process improvements have grown the production by 50% from 305 MMscf/d in 2018.”

Dana Gas said earlier this month that its share of collections from the sale of Condensate, LPG and gas in the Kurdistan region rose by 80% to $184 million in 2021, compared to $102 million in 2020.

“Despite the challenges the whole world has faced over the past two years, we are proud to have continued delivering uninterrupted supply of clean-burning natural gas to support the KRI economy and enable a healthy recovery,” Majid Jafar, the CEO of Crescent Petroleum and board managing director of Dana Gas, said in the press release. “Meanwhile our major expansion plans at the Khor Mor and Chemchemal fields to target 1 billion cubic feet per day in the coming few years will enable improved services across the region for years to come.”

Jafar's comments come after Kurdistan Region Prime Minister Masrour Barzani said in October that his cabinet has increased gas production over the last two years, and that a key goal on his agenda was to double this in his remaining two years in office.

Speaking at the Middle East Research Institute (MERI) forum in Erbil, the prime minister said he wanted to make use of all the natural resources available in the Kurdistan Region, including natural gas. “My ambition is really to provide gas for the households. My plan is to build petrochemicals so that we can actually be clients and buyers of our own gas and natural resources, and then process it. That would be much more beneficial to the people of Kurdistan and for the excess gas and the natural resources that we have to be able to export it to outside,” he added.

Under the current expansion phase known as KM250, supported by the US, Dana Gas which has a 35% interest in Pearl Petroleum aims to increase natural gas production to 700MMscf/d by April 2023. “The KM250 Gas Expansion Project is supported by a $250 million financing agreement for 7 years with the US International Development Finance Corporation (DFC) which was announced in September 2021,” the company said.

Dana Gas was involved in a financial dispute with KRG for several years, but the issue over accusations that the government had underpaid it for gas production was finally settled in 2017 with the KRG agreeing to pay a final settlement of $2.24 billion to the company.

The company has said that the current phase which was halted for a year due to the COVID-19 pandemic will be followed by a new project, KM500, which aims to increase gas production to 1 billion cubic feet per day, to meet the rising demand for electricity in the Region.

The KRG has struggled with economic complications over recent years and has struggled to pay the oil companies operating in the Kurdistan Region. However, it has managed to provide regular payments to companies in recent months as the economic impact of COVID-19 lessens and oil prices increase.

In August, the KRG’s Minister of Natural Resources Kamal Atroshi issued a decree giving companies working in the petroleum industry in the Kurdistan Region 18 months to put a complete end to gas flaring; a toxic byproduct of crude oil production, and a move that would end the environmentally damaging practice.

https://www.rudaw.net/english/kurdistan/12012022
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Re: Kurdistan Oil & Gas Development

PostAuthor: Anthea » Thu Jan 20, 2022 12:58 pm

Oil flow in Kirkuk-Ceyhan pipeline

ANKARA, Jan 19 (Reuters) - The flow of crude oil through the Kirkuk-Ceyhan pipeline has resumed, after it was halted on Tuesday due to a blast near the pipeline in the southeastern Turkish province of Kahramanmaras, officials said on Wednesday

The explosion, which a senior security source later said was due to a falling power pylon and not an attack, caused the pipeline near Kahramanmaras to catch fire. The incident has added to global supply concerns and helped drive global crude prices to seven-year highs.

Turkey's state pipeline operator Botas said earlier the fire had been extinguished and oil flows would resume within an hour, after "all necessary measures have been taken by Botas teams".

The pipeline carries crude oil from Iraq's Kurdistan region for export from Turkey's port of Ceyhan.

Another source in the Kurdistan region said the blast had no effect on overall monthly export volumes.

"Oil was stored upstream and can be fully released now that pipeline is back online," the person said.

Kurdish crude exports averaged 10 million barrels per month between October and December, Refinitiv Eikon shipping data showed. So far, 5.2 million barrels have been loaded in January.

The cargoes mainly head to refineries in Mediterranean countries such as Croatia, Greece, Italy and Spain, the data shows.

Brent crude futures were up 0.35% to $87.82 a barrel by 0745 GMT, adding to the previous session's jump of 1.2%. The benchmark contract climbed to as much as $89.05, its highest since Oct. 13, 2014.

https://www.reuters.com/business/energy ... 022-01-19/
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Re: Kurdistan Oil & Gas Development

PostAuthor: Anthea » Wed Feb 16, 2022 4:47 am

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Decision against Kurdish oil

The head of the Kurdistan Democratic Party (KDP) said late on Tuesday that the Iraqi federal court's ruling against the Kurdistan Region’s oil and gas industry is "completely political”.

"The decision of the Iraqi Federal Supreme Court regarding the oil and gas of the Kurdistan Region is a completely political decision and contradicts the Iraqi federal constitution, which is aimed at opposing the Kurdistan Region and is against the Iraqi federal system,” Masoud Barzani said in a statement.

Barzani's comments follow the federal court's ruling earlier in the day that the oil and gas law regulating the oil sector in the Kurdistan Region is unconstitutional.

The court reviewed cases brought against the export of oil from the Kurdistan Region to foreign countries without prior approval from the federal government. The Iraqi oil ministry has previously filed cases against the Kurdistan Regional Government (KRG), both in 2012 and in 2019, for exporting oil without approval from the federal government.

The KRG passed its own oil and gas law in 2007, enabling it to administer and develop its own oil and gas resources.

The lack of federal oil and gas legislation has been a strong point of contention between Erbil and Baghdad since the current Iraqi constitution was approved in 2005. According to the constitution, it is the responsibility of both the federal and regional governments to develop oil and gas resources.

Such legislation exists, but is yet to pass parliament. The law has been pending since 2005 and every election, parties promise to vote on it.

The KRG exported a total of nearly 80 million barrels of crude oil in the first half of 2021, collecting a net $1.7 billion, according to audited data published by the KRG in November. The majority of these exports were made to Turkey.

https://www.rudaw.net/english/kurdistan/150220223
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Re: Kurdistan Oil & Gas Development

PostAuthor: Anthea » Wed Mar 02, 2022 7:00 am

Iraq’s decision on oil/gas

The heads of the Kurdistan Region’s presidency, government, parliament and Judicial Court convened on Monday, discussing the recent decision by Iraq’s top court against the Region’s oil and gas law. They rejected the ruling, claiming it undermines the federal system

Iraq’s Federal Supreme Court on February 15 found the Oil and Gas Law of the Kurdistan Regional Government No. (22) of 2007 to be “unconstitutional,” and therefore struck down the legal basis for the independence of the Kurdistan Region’s oil and gas sector. The decision has been condemned by Kurdistan Region’s ruling parties as well as top officials

The Monday meeting “reiterated that the Iraqi Federal Court ruling is unacceptable, emphasizing that the Kurdistan Region will continue to exercise its constitutional rights, and not relinquishing its lawful rights and powers,” read a statement from the joint meeting, published by the Region’s presidency.

President Nechirvan Barzani, PM Masrour Barzani, and Speaker of Parliament Rewaz Fayaq as well as their deputies and the head of the Judicial Council attended the meeting.

The statement also read that the Kurdistan Region will “exhaust all available legal means in order to safeguard Kurdistan Region’s constitutional powers and rights,” backing it up with six reasons. One of the points claimed that the court’s decision “led to stripping the regions of a constitutional power while granting it to the federal authorities, which is inconsistent with the Federal Court’s power, as it is a retreat from the principles of the federal system.”

“The Kurdistan Region believes that this ruling, not only undermines the constitution and the federal system, it also fails to be impartial, and is driven by special interests, especially at a time when Iraq is moving through a critical political stage; and while the political parties are engaged in talks to reach an understanding and to find a way to break the political deadlock, this ruling clearly exacerbates the conditions even further,” said another.

The ruling by the Iraqi court comes as political parties in Iraq continue the process of forming a new government following the country’s October 10 parliamentary elections.

President Barzani received the US ambassador to Iraq on February 16, discussing pressing issues, especially the ruling by Iraq’s federal court, according to a statement by the Kurdish leader’s office without mentioning if the US diplomat commented on the ruling.

https://www.rudaw.net/english/kurdistan/280220222
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Re: Kurdistan Oil & Gas Development

PostAuthor: Anthea » Wed Mar 02, 2022 7:11 am

Russia reaffirms interest in Kurdish oil

While Russia's invasion of neighboring Ukraine continues, a top Russian official told Rudaw on Monday that the country has invested up to $14 billion in Iraq and the Kurdistan Region, mainly focusing on the energy sector

Asked about the situation in Ukraine, Russian Ambassador to Iraq Elbrus Kutrashev told Rudaw's Rebaz Ali that it was a "big drama," adding that "Ukraine is a friendly brother state for Russians." Kutrashev also said that ethnic Ukrainians and Russians are one people, with the same origins and an almost identical language.

His country’s investments are "mostly" dedicated to Russia's projects in southern Iraq, and partly in the Kurdistan Region, the ambassador said. He added that "at least $2 billion" of the total $14 billion investment has been allocated to the Kurdistan Region, mostly centered on the oil and gas sector.

Lukoil, Gazprom Neft, and Rosneft are some of the major Russian oil and gas companies operating in Iraq and the Kurdistan Region.

The Kurdistan Regional Government (KRG) signed contracts with giant Russian oil and gas firms in 2014 and 2017 to work in several oilfields across the Region, implementing geological exploration programs and exporting crude oil.

Moscow and the Kurdistan Region enjoy good relations, especially in the energy sector. In December, the Russian presidential envoy to the Middle East met with Kurdish officials in Erbil where both sides advocated for stronger ties.

Kurtashev noted that Iraq's security situation was a core deterrent to foreign investment, mentioning that potential foreign investors would have to allocate 20 to 25 percent of their budgets on providing security, should they choose to invest in the country.

Proportional to the security situation in Iraq, Kutrashev stated that the number of employees of Russian origin in Iraq is "quite big, and they are a good example of our serious will to work in this country and develop bilateral cooperation," adding that thousands of Russians used to live in Iraq during the Soviet Union era.

Enthusiasm was expressed by the ambassador as he discussed potential cooperation with all forms of Iraqi society, including the government, despite skimming over the resurfacing struggles with forming a government through every election cycle.

https://www.rudaw.net/english/world/010320221
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Re: Kurdistan Oil & Gas Development

PostAuthor: Anthea » Fri Mar 11, 2022 1:24 am

Erbil willing to negotiate oil, gas law

Erbil is willing to conduct negotiations with Baghdad on the issue of oil and gas extraction from the Kurdistan Region, but they are yet to make any progress, an advisor to the Prime Minister of the Kurdistan Regional Government (KRG) told Rudaw on Wednesday

“We are willing to engage in talks with the central government regarding this matter, because we believe it is depriving the people of Kurdistan from their entitled rights,” Bewar Khinsi, Advisor to Prime Minister Masrour Barzani told Rudaw’s Hemin Baban.

The advisor also stressed upon the catastrophic implications that would be inflicted on the Kurdistan Region if they are rendered unable to generate income from the oil and gas industry given that “90 percent of the entire income of Iraq depends on oil.”

The Iraqi Federal Supreme Court ruled against the Kurdistan Region’s oil and gas law in mid-February, claiming that it was “unconstitutional”, hence striking down the independence of the Kurdistan Region’s oil and gas sector and putting its industry in jeopardy.

Khinsi also emphasized that the decision made by the Iraqi top court against the Kurdistan Region’s oil and gas law was a political one.

With regards to the expected timing of the negotiations, Khinsi said that the KRG is currently waiting for a response from the government in Baghdad, while expressing his doubts that they will take place before the formation of a new Iraqi cabinet.

In a press conference on March 3, PM Barzani stated that according to article 111 of the Iraqi constitution, the oil and gas of Iraq is a property of the whole country, which includes the Kurdistan Region, its cities, and its provinces.

Kurdistan’s oil and gas law complies with all the provisions of the constitution, PM Barzani said, reiterating that the “so-called” Iraqi Federal Court’s decision is “against” Iraq’s constitution as “it is a change in the constitutional articles.”

The KRG passed its oil and gas law in 2007, enabling it to administer and develop its own oil and gas resources.

The KRG exported a total of nearly 80 million barrels of crude oil in the first half of 2021, collecting a net $1.7 billion.

https://www.rudaw.net/english/kurdistan/10032022
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