
OSLO, Norway, Sept. 12 (UPI) -- Norwegian energy company DNO International announced it encountered oil during drilling operations in the Kurdish region of northern Iraq.
DNO said it discovered oil while drilling in the Benena-3 well in the Kurdish region. The company said it was assessing the find.
It added that a series of wells were under examination in the region. DNO Executive Chairman Bijan Mossavar-Rahmani said the drilling campaign in the Kurdish north was aggressive.
"Through these wells and others planned next year, the company is targeting in excess of 500 million barrels of gross unrisked oil and gas reserves, predominantly in Kurdistan," he said in a statement.
The central government in Baghdad had said it was considering cutting ties with foreign energy companies signing unilateral deals with the semiautonomous Kurdistan Regional Government, which controls oil-rich northern Iraq.
Baghdad blacklisted some international oil companies that have engaged the KRG.
Washington has advised U.S. energy companies working in Iraq that signing deals without Baghdad's approval is a risky move.
|
|
|
|
|
|
| Additional Energy Resources Stories | |
ERBIL, Iraq, June 19 (UPI) --
Iraq's Kurds have consolidated their growing energy sector with Chevron Corp. securing a third exploration block in the semiautonomous northern region that increasingly operates as a de facto independent state and France's Total buying a majority stake in another.
|
RIYADH, Saudi Arabia, June 19 (UPI) --
Britain's BAE Systems, Europe's biggest defense company, reportedly expects to wrap up a price deal with Saudi Arabia for 72 Eurofighter Typhoon combat jets after two years of tortuous negotiations.
|
Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
|
Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
|
| Stories | Photos | Comments |
View Caption