Iraqi Kurds spell out oil ambitions

Dec. 4, 2012 at 7:28 AM   |   Comments

ERBIL, Iraq, Dec. 4 (UPI) -- More than 3 million barrels of oil per day could be flowing from the Kurdish region of Iraq given the proper export infrastructure, a regional leader said.

Kurdish Prime Minister Nechirvan Barzani said at a regional oil and natural gas conference that production from the semiautonomous northern region should add at least $8 billion to the Iraqi treasury. In 2013, he said, the region should export, on average, 250,000 barrels of oil per day.

"We will continue on this path and are on track to export 1 million barrels per day by 2015 with existing discoveries and 2 million barrels per day by 2019 with expected discoveries," he stated.

Within seven years, as much as 3 million barrels of Kurdish oil could reach international markets every day with the right export infrastructure in place, he added.

His comments came as Paolo Scaroni, the chief executive officer at Italian energy company Eni, met in Baghdad with Iraqi Prime Minister Nouri al-Maliki to discuss developments at the Zubair oil field in southern Iraq. Eni said production at Zubair would reach 1.2 million barrels of oil equivalent per day at full capacity.

Baghdad and the Kurdish government are at odds over oil laws in the country. The central government says unilateral deals with the Kurds are illegal.

"The days of dictatorship, unaccountable institutions and centralized economic mismanagement should be consigned to the dustbin of history," countered Barzani.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
Only 1 in 5 insurers cover volcanic ash
Twinkies' Chicago facility to close
Corona Extra recalled due to glass particles in beer
GenDyn to study new guidance system for ICBMs
Damen, Astinave in patrol boat deal
Trending News