New investment revives modest hopes for KRG oil sector
After two years of non-payments and security concerns, Kurdistan-focused oil companies are gingerly starting to reinvest.
The drilling platform at the Akri-Bijeel field in Iraqi Kurdistan. (SEBASTIAN MEYER/Iraq Oil Report/Metrography)
ERBIL - Kurdistan's oil sector is showing early signs of rejuvenation after nearly two years of calamitous setbacks for investors.
Heartened by a relatively steady stream of payments from the Kurdistan Regional Government (KRG), oil companies are planning to bring about 106,000 barrels per day (bpd) of new production online by the end of the year, according to an Iraq Oil Report analysis of data gathered from public disclosures and industry officials.
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