Rosneft plans to start development of deposits in Kurdistan this year

Despite the protests of the Iraqi government, Rosneft intends to start developing deposits in Iraqi Kurdistan by the end of this year, where it has invested 1 billion dollars.
Rosneft wants to start developing deposits in Kurdistan before the end of 2018, despite the protests of Baghdad. The agreement on the development of five oil fields was signed by the oil company last year, but did not agree on a contract with the Iraqi authorities. In addition, Rosneft intends to increase the capacity of the oil pipeline from Kurdistan from 700 thousand barrels per day (b / s) to 1 million b / s.

"Rosneft" by the end of the year will begin development of deposits in Iraqi Kurdistan, the oil company reported. Appropriate production sharing agreements for $ 400 million for five fields (reserves - 670 million barrels) in the region "Rosneft" signed last year, on July 24 the topic was discussed by the delegation of the oil company and the authorities of the Kurdish province of Dahuk. Initially, Iraqi authorities opposed the development of the fields, since the agreements were signed without agreement with the federal government. The Iraqi authorities were ready to conclude development agreements with the British BP.

"Iraqi Kurdistan produces almost 350,000 barrels of oil daily in three provinces - Erbil, Dohuk and Sulaymaniyah. Almost 270 thousand barrels of oil are exported, and the balance is used within the region. Of this amount, 185 thousand barrels are produced in Dahuk, "Rudaw TV channel quotes Dilshad Shaaban, deputy chairman of the energy committee of the parliament.

Another project in Kurdistan, which should be launched this year, is an export oil pipeline to Turkey. In 2017, Rosneft agreed on its modernization from 700 thousand b / s to 1 million b / s. The share of Rosneft in the pipe project is 60%, the rest belongs to KAR Group, followed by Singapore's Kurdistan Pipeline Company Pte Ltd (issued by Kommersant), established in late 2017. The company's director is Vice President of Rosneft Otabek Karimov, follows from the company's documents. In February of the same year Rosneft Trading signed an agreement on the purchase of oil for $ 1 billion.