Pipeline and payments fuel Kurdistan’s oil sector revival
Kurdistan's oil sales are steadily growing; a Rosneft-funded oil pipeline has finally reached the 1 million bpd benchmark; and oil companies are getting paid.
A worker walks past a storage unit at the Tawke oil field in Iraqi Kurdistan. Norwegian oil company DNO is extracting oil in the Kurdish region of Iraq. (SEBASTIAN MEYER/Metrography/Iraq Oil Report)
ERBIL - Kurdistan's oil sector is on the upswing, with increasing volumes of crude flowing into a newly expanded 1 million barrel per day (bpd) export pipeline, just one year after the regional government lost nearly half of its production capacity because of a military offensive launched by Iraq's federal government.
Production has rebounded to around 450,000 bpd, according to an Iraq Oil Report analysis based on data gathered from each of Kurdistan's fields. Last November, in contrast, production was below 350,000 bpd, following a federal Iraqi military operation to reclaim control of Kirkuk and its oil fields.
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