Kurdish oil work secure, Oryx Petroleum says

Production from Kurdish assets at around 4,000 bpd.
By Daniel J. Graeber Follow @dan_graeber Contact the Author   |  July 7, 2014 at 9:46 AM
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CALGARY, Alberta, July 7 (UPI) -- Canadian energy company Oryx Petroleum said Monday its operations in the Kurdish north of Iraq were unaffected by violence in the rest of the country.

The Sunni-led Islamic State of Iraq and Syria declared an Islamist state in parts of Iraq in June after taking control of key cities in the north of the country. The northern provinces that make up the semiautonomous Kurdish region have been shielded from much of the violence.

"Our operations remain largely unaffected by the security situation in northern Iraq," Oryx Chief Operating Officer Henry Legarre said in a statement. "We continue to vigilantly monitor the situation and implement measures to mitigate risks."

Production from the Demir Dagh reserve area in the Kurdish north of Iraq started June 12. Production stands at around 4,000 barrels per day and Oryx said the field produced 38,000 barrels total last month.

Gross production should reach 25,000 bpd by the end of the year as operations proceed, the company said.

The company in June sold its first volumes of crude oil from the Demir Dagh reserve area to the domestic market.

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