Energy focus of Emirati, Kurdish talks

April 18, 2013 at 7:05 AM
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ERBIL, Iraq, April 18 (UPI) -- Hosting an Emirati trade delegation in the Kurdish region of Iraq highlights the region's oil and natural gas prospects, an executive from Dana Gas said.

Dana Gas and Crescent Petroleum met with representatives from the United Arab Emirates in Erbil, the capital of semiautonomous Iraqi Kurdistan.

Majid Jafar, the top executive of Crescent and board director of Dana Gas, said the companies represent the largest Emirati investors in the region.

"The Kurdistan Region of Iraq is one of the most promising areas in the Middle East region for investment," he said in a statement. "We are pleased to play this positive role in encouraging further strong economic ties and investments from the UAE."

The first-of-its-kind meeting was meant to strengthen economic ties between Emirati investors and the Kurdish government.

Dana and Crescent together produce around 80,000 barrels of oil equivalent per day from the Khor Mor and Chemchemal fields in the region.

Political disputes between the Kurdish and central governments over oil laws are seen as impediments to Iraq's oil potential.

Turkish Energy Minister Taner Yildiz said he was ready to embrace the construction of an oil pipeline from northern Iraq after hosting Kurdish leaders in Ankara last month.

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