“Gazprom” – the giant Russian group active in the gas field – announced that it has joined a new project to extract oil in the Iraqi Kurdistan despite the tensions with the central authority in Baghdad because of the Russian company activities in this autonomous region.
“Gazprom Neft” will be at the top of Halabja project as it will own 80% of it compared to 20% owned by the Kurdistan Government. The field contains reserves of up to 100 million tons of oil, and its development will take about 7 years.
During his recent visit to Moscow, Massoud Barzani, the president of the Iraqi Kurdistan region, has concluded important agreements with Gazprom Neft.
Source: The Russian and French news agencies