Feb 09 2012 |
more articles from
|
South Korea's SK Innovation participates in 4th round of oil & gas licensing after selling shares in Kurdistan
By Abdullah Sabri BAGHDAD, Fab. 9 (AKnews) - Iraq's Oil Ministry said Thursday that it has allowed South Korea's SK Innovation CO. to participate in the fourth round of oil and gas licensing after it has sold its shares in the oilfields in Kurdistan Region to the South Koren National Oil Company.Baghdad banned in May last year the companies who signed contracts with the Kurdistan Regional government (KRG) to explore and develop the oil fields in the region from participation in the 4th round of oil and gas licensing on grounds that the KRG oil contracts were not legal because the Iraqi Oil Ministry was the sole authority to sign such contracts with the foreign energy companies.
SK Innovation had shares in the Kurdistan Region's Bazyan oilfield, in Sulaimaniyah governorate. The company signed a contract with the KRG authorities in 2007 to drill oil.
Kurdistan Region now produces about 200,000 bpd and is planning to increase output to 1 million bpd in the coming years.
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment