KRG-Genel deal secures gas supply, but not prices
Kurdistan has taken a step toward supplying gas exports to Turkey with a new agreement to govern development of the Miran and Bina Bawi fields.
A rig at the Miran field, which is operated by London-listed Genel Energy. (Source: Genel Energy)
ERBIL - The Kurdistan Regional Government (KRG) has reached a landmark gas development deal with its largest independent oil operator, Anglo-Turkish Genel Energy, which should allow the region to meet its massive commitments to feed Turkey's growing energy demand.
The deal doesn't set a price for natural gas, which other companies were eager to see. Instead, the KRG and Genel negotiated a new contract, governing both the Miran and Bina Bawi fields, which ties the company's commercial interests to the sale of liquids that will be produced along with gas.
This content is for registered users. Please login to continue.
If you are not a registered user, you may purchase a subscription.
If you are not a registered user, you may purchase a subscription.
