facebook
twitter
rss
account
search
search
 

Taqa gets approval for oil work in Kurdish Iraq

Oct. 7, 2013 at 7:41 AM   |   Comments

ABU DHABI, United Arab Emirates, Oct. 7 (UPI) -- Abu Dhabi National Energy Co. said Monday it received approval from the Kurdish government in northern Iraq to start development in the Atrush oil field.

The company, known also as Taqa, said it expects to produce 30,000 barrels of oil per day in the Atrush field starting in early 2015.

"It is our ambition to build an integrated business in the Kurdistan region of Iraq, including potential power and water projects in addition to oil and gas infrastructure developments," David Cook, head of oil and gas operations at Taqa, said in a statement. "Through the Atrush development, Taqa is delighted to be part of the economic progress and growth in the region."

The company said the Kurdish approval opens the door for a $300 million investment in a three-well Atrush campaign. It said the approval translates to a 25-year work plan for the oil field.

The semi-autonomous Kurdish north has been shielded from much of the violence plaguing Iraq but is at odds with the national government over who controls the country's oil sector.

© 2013 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.
Most Popular
1
FBI arrests Google employee accused of nude photo scam FBI arrests Google employee accused of nude photo scam
2
Navy tests MQ-8C unmanned helos Navy tests MQ-8C unmanned helos
3
Europe must drop the euro, Germany abandon mercantilism Europe must drop the euro, Germany abandon mercantilism
4
Harris selected for geospatial data products Harris selected for geospatial data products
5
Sweden plans to replace its Defense and Security Export Agency Sweden plans to replace its Defense and Security Export Agency
Trending News
Around the Web
x
Feedback