Yes, I do... and I know that none of the majors are willing to invest in Iraq.. Remember... the oil industry HATES a war zone.
Marathon is nothing.. Sinopec will withdraw if there is conflict.. Remember that Iraq had contracts with China and Russia in place for YEARS without those companies ever making a move.
Lol? http://en.wikipedia.org/wiki/Marathon_Oil quite a big company by the seems of it, and there are other companies mid-large in kurdistan.. not to mention the gas companies (rwe) and others. Besides kurdistan is in an important area and any war on it can very easily drag the whole of the region into conflict, I'm sure the terrorists would love to see a war with kurdistan which they can use to their advantage. Also a couple smart moves by the KRG and the whole region is in war.
Gonna be a flood o' oil an' den Uncle Ferd gonna put his 9mpg 454ci hemi w/ supercharger back inna pick-up... Giant oil pipeline in the works from Alberta to the Gulf December 23, 2010 -- In the coming weeks, the Obama administration will decide if it wants to significantly increase the amount of oil the country imports from Canada's controversial Alberta oil sands.
Doesn't this make you a little nervous? It really should have its own thread IMO... Oil sands from Canada to the Gulf of Mexico for export to China by supertanker? Oil sands are REAL expensive.. Why would China buy oil in such a round about fashion when they can get it directly from Sudan, Iran, Iraq, Russia and Saudi Arabia or Yemen ?
you argued first there aint big oil companies in kurdistan and , hunt is there as well. those maps you showed non are in kurdistan , which part of the KRG only digs oil in kurdistan you dont understand and the oil fields been newly developed by KAR group . http://www.kargroup.net/refinery.html
Hunt's not a major either.. There are literally thousands of capped oil wells already in Iraq with nearby GOSPS, Refineries and pipelines. These guys aren't planning to drill new wells.. they are going to uncap reserves already developed by Iraq. And Nobody will do anything at all if conflict and sabotage make it dangerous. You do know that an oil reserve is an economic measurment based on quality, ease of extraction and market demand... don't you?
the oil fields the KRG works on are newly developed stop trying to fiddle with the facts . you tried the same argument in the "Kurdistan region - Khabat refinery to output automobile petrol" and i showed proof the oil fields are newly developed in kurdistan . and i show them again to prove you wrong. your argument is baseless get some info before you start arguing so much for your close follow up with oil. lol
you are wrong many new drilling is under going. Economy - ShaMaran Provides an Update on Atrush-1 Well, Kurdistan PNA - ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSX VENTURE:SNM) is pleased to provide an update on the Atrush-1 exploration well in Kurdistan as per the press release made by General Exploration Partners ("GEP") released today, December 22, 2010. The well was spudded on October 5, 2010 and 9 5/8" intermediate pipe was set after logging the Jurassic section to the top of Kurrachine at a depth of approximately 2,230 metres. Drilling operations have progressed well and results to date have met pre-drill expectations. The first zone of interest was encountered slightly higher than prognosis at 800 metres in the Lower Cretaceous Garagu and Lower Sarmord formations. Below the Garagu shale top seal, a small amount of live oil was visible in the mud pits before total lost circulation occurred, indicating a possible oil-bearing zone with excellent fracture reservoir properties. Logs suggest a gross fractured interval of 80 metres with a matrix porosity of 8%. The zone was isolated behind casing for possible later testing, which would be required to make any determination of this zone's prospectivity. After setting 13 3/8" casing, drilling continued in the Jurassic Barsarin-Sargelu-Alan-Mus ("BSAM") interval. Live oil was encountered continuously at the surface during the drilling of these formations. An oil-stained core was recovered from the Lower Jurassic Mus formation which consisted of highly fractured porous dolomite. The potential gross oil column encountered in the BSAM was 250 metres, with shows down to the base of the formation with no clear oil-water contact. Drilling continued in the 12 1/4 inch hole to the third zone of interest of the Lower Jurassic Butmah formation, which was encountered at 1,460 metres. The porous dolomite reservoir provided abundant live oil at the surface during drilling until a depth of 1540 metres, indicating a minimum column of 80 metres, which may or may not be connected to the BSAM reservoir above. The deeper Butmah section down to at least 1750 meters indicated possible fractured and occasionally porous oil-bearing dolomites based on logs and more subtle oil drilling shows. Reservoir pressure measurements have confirmed an oil gradient in the main reservoir with no clear water leg detected. http://www.peyamner.com/details.aspx?l=4&id=216002
Oil exports from Iraq's Kurdish north to resume "Iraq's newly appointed oil minister said on Saturday that oil exports from the country's northern self-ruled Kurdish region would soon resume as part of the country's national oil export policy. The Kurds have sought greater control over oil in their crude-rich region while Baghdad has argued that the oil is a national resource, under the central government's control. Iraqi Kurds have unilaterally signed more than two dozens oil deals with Western companies that are deemed illegal by Baghdad. Exports were halted a few months after they started in June 2009 amid a disagreement over payments. Abdul-Karim Elaibi told The Associated Press the exports from the Kurdish region would be resumed "in the coming few days." He didn't set a date or elaborate on how the exports would be part of the nation's export strategy. Earlier this month, Elaibi's predecessor, Hussain al-Shahristani, said a dispute over how private companies accounted for equipment costs and other expenses for reimbursement has been settled, clearing the way for the exports to resume. Al-Shahristani, who now holds the post of vice president for energy issues in the new government of Prime Minister Nouri al-Maliki, said in comments Dec.6 the Kurds were committed to exporting 150,000 barrels a day by next year. Iraq plans to raise exports to 2.25 million barrels a day in 2011, up from 1.9 million at present. The current oil exports account for nearly all of Iraq's foreign currency revenues. The increase is as important psychologically for Iraq as it is economically and practically. The oil-rich nation, which was the birthplace for the Organization of the Petroleum Exporting Countries, has struggled to raise its oil production and exports after years of sanctions and wars left much of the vital sector in poor shape."]Iraq's newly appointed oil minister said on Saturday that oil exports from the country's northern self-ruled Kurdish region would soon resume as part of the country's national oil export policy. The Kurds have sought greater control over oil in their crude-rich region while Baghdad has argued that the oil is a national resource, under the central government's control. Iraqi Kurds have unilaterally signed more than two dozens oil deals with Western companies that are deemed illegal by Baghdad. Exports were halted a few months after they started in June 2009 amid a disagreement over payments. Abdul-Karim Elaibi told The Associated Press the exports from the Kurdish region would be resumed "in the coming few days." He didn't set a date or elaborate on how the exports would be part of the nation's export strategy. Earlier this month, Elaibi's predecessor, Hussain al-Shahristani, said a dispute over how private companies accounted for equipment costs and other expenses for reimbursement has been settled, clearing the way for the exports to resume. Al-Shahristani, who now holds the post of vice president for energy issues in the new government of Prime Minister Nouri al-Maliki, said in comments Dec.6 the Kurds were committed to exporting 150,000 barrels a day by next year. Iraq plans to raise exports to 2.25 million barrels a day in 2011, up from 1.9 million at present. The current oil exports account for nearly all of Iraq's foreign currency revenues. The increase is as important psychologically for Iraq as it is economically and practically. The oil-rich nation, which was the birthplace for the Organization of the Petroleum Exporting Countries, has struggled to raise its oil production and exports after years of sanctions and wars left much of the vital sector in poor shape. http://www.pukmedia.com/english/index.php?option=com_content&view=article&id=5995il-exports-from-iraqs-kurdish-north-to-resume&catid=25:iraq&Itemid=386
^^^ there you have it magot , just like the others you said it aint gonna happen but guess what kurds always win
by the way i have respect to assyriasn in kurdistan and i support an autonomy in mosel for them , how ever western assyrians do not have a respect over here .
ALL OIL FIELDS IN KURDISTAN ARE RECENT DISCOVERIES. [ame="http://www.youtube.com/watch?v=jVXyfvPfC7M"]YouTube - todd kozel CNN.flv[/ame]
Check out the maps shown in this video [ame="http://www.youtube.com/watch?v=XZhAkODanGg"]YouTube - Gulf Keystone Petroleum (GKP)[/ame]
[ame="http://www.youtube.com/watch?v=vtQ3dQVt_Gs"]http://www.youtube.com/watch?v=vtQ3dQVt_Gs[/ame] the kurdish oil are all new discoveries and new drills as he explains so much for uncapped iraqi oil mr magot blabs on about. sheikan has 18 billion barrels a day alone !!! wow amazing discovery
so much for kirkuk making kurds declare independence . kirkuk's oil reserve is 10 billion barrels while sheikan is 18 and more .... kurds want kirkuk not for oil but cos its historically a kurdish city known as arrapha during mede empire . http://historyhuntersinternational.org/2010/03/09/arbela-erbil-in-the-archaeological-news/
good news. http://currencynewshound.wordpress.com/2010/12/25/wall-street-journal-iraq-ctrl-govt-to-recognize-oil-deals-inked-by-kurdistan/
Just remember that an oil reserve is an ECONOMIC measurement based on several factors ... and changes with the times.
either way Kurdistan has high oil potentials and the west specially US and UK have realized and are strengthening there ties in every aspect.
Thursday, January 06, 2011 Gulf Keystone expands massive Shaikan oil discovery with latest well Gulf Keystone Petroleum (LON:GKP) shares climbed around 5 percent after it confirmed that the Shaikan-3 appraisal well had been completed in Northern Iraq. Shaikan-3 in Kurdistan has been completed as a production well from the Jurassic reservoirs in the Sargelu formation – just like the nearby Shaikan-1 well. Importantly the well is designed to test the shallow Cretaceous intervals, which could not be properly tested in Shaikan-1. To this end Shaikan-3 proved successful. The well defined the lower portion of these Cretaceous intervals - known as the Garagu resources – between 1,060 and 1,157 metres. Gulf Keystone puts the Garagu oil in place volumes between 220 million and 2.2 billion barrels (P50 – P10), following two separate flow test on Shaikan-3, and based on the previously gathered data. The ‘P range’ relates to the probability of the volumes estimated. So P50 represents a 50 percent probability that the actual volumes in the ground will equal or exceed the estimate, whereas a P10 estimate would have a 10 percent chance. The news prompted a fairly modest rally on London’s AIM market, with shares adding around 8.5 pence to trade at 172 pence per share. The fact that such a discovery, which GKP chief operating officer John Gerstenlauer described as ‘massive by any standard’, prompts a mere 5 percent rise suggests the latest update had been widely anticipated. The threat of litigation by former partner Excalibur Ventures has recently unsettled investors, though GKP is confident it will see off the challenge. That said, the news from the ground has been uniformly upbeat. The initial Shaikan-1 well propelled Gulf Keystone to become one of the most talked about, and invested in, stocks on London’s AIM market. Shaikan-1 tested five levels from 1,450 metres through to 2,850 metres - with a combined rate of more than 20,000 of oil barrels a day. Based on the results from the initial Shaikan well an independent report was compiled. It put Shaikan’s oil in place resources at around 1.9 billion barrels and saw upside to 7.2 billion (P90 - P10). However it could not properly test either the shallower Cretaceous or deep down to the Permian – at around 5,000 metres. GKP recently began a comprehensive work programme to fill in these gaps. With Shaikan-3 testing the shallow reservoirs in the immediate vicinity of Shaikan-1, meanwhile work on the Shaikan-2 deep-appraisal well began in December 2010. Shaikan-2 will take 6 months to drill to a depth of 5,000 metres. Richard Nolan, equity analyst at Daniel Stewart, highlighted that GKP successfully achieved its goal with Shaikan-3. “The P50 / P10 range provided today encompasses some earlier market estimates of near 500 million barrels.” “Considering the proximity between Shaikan-1 and Shaikan-3 compared to the lateral extent of the Cretaceous we view the fact that they encountered significant volumes as positive and are optimistic about the volume estimate range and its potential upside,” Nolan said in a note to clients. Meanwhile Evolution Securities oil analyst David Farrell stressed that the Garagu resources represent an incremental addition to the Shaikan discovery – although he has a more conservative view on the level Garagu’s recoverable resource. The analyst also noted that he would have liked more information, relating to detail on the flow test rates, oil viscosity or quality (API). “Our assumed P50 recoverable resource estimate of 66 million barrels for the Cretaceous Garagu formation is hardly transformational for the Shaikan story but is an incremental addition,” Farrell said. Lionel Therond, oil and gas analyst at Fox-Davies, described it as a positive result that adds up to the existing resources estimates for Shaikan-1. “A positive result that adds to the 4.2 billion barrel existing oil in place estimate based on the Shaikan-1 discovery well,” Therond said. “However the P50 estimate of 220mmbbl is lower than our expectation of 600 million barrels of oil in place for the Cretaceous formation.” He adds: “Obviously the upside is material and contingent on further appraisal drilling down the flank of the structure but conversely there is also a downside scenario towards the P10 estimate which has not been published by the company.” The clear message that sticks out from analyst coverage is that the range of the P50-P10 estimate for Garagu is wide to say the least. Indeed GKP say as much in this morning’s statement. According to Gulf Keystone, the large spread between the P50 and P10 volumes relates to the uncertainty regarding the exact nature of the Cretaceous reservoirs down dip, on the flanks of the Shaikan structure. “If the Cretaceous is oil bearing near the flanks, then the P10 volumes become more likely and it is possible that the oil will also be less viscous and of higher API gravity,” the company said. GKP, and its partners, will now formulate a development plan for the Garagu resources. http://www.proactiveinvestors.com/companies/news/11207/gulf-keystone-expands-massive-shaikan-oil-discovery-with-latest-well-11207.html
These are all the oil fields in Kurdistan , these are the fields that make up the 45 billion barrels of the proven oil reserves .
The Kurdistan Regional Government (KRG) continues to award and execute contracts of the new PSAs with a consortium of companies such as Korea's National Oil Corporation, Russian TNK-BP subsidiary Norbest, India's Reliance, Austria's OMV, US Gulf Keystone International Petroleum Limited (GKPL), MOL Hungarian Oil and Gas Public Limited, Korean Hillwood International Energy Company, and US Aspect Energy, as well as renew older PSAs to Turkish Norwegian, Cayman Islands and Canadian companies. In the interim, with the creation of the new KRG in August 2007, the Kurdish Natural Resources Minister is signing several new PSA contracts with international oil companies. A new petroleum law specifies Iraq's currently producing fields be developed by state-owned oil companies under the reconstituted INOC, while all other future fields by private companies through the contractual mechanism of production sharing agreements (PSAs), the mechanism favored by the oil companies. KRG through KEPCO received several blocks that in essence advanced plans for admitting IOCs as partners in the blocks, as KRG predicts the partners are necessary for providing technical and financial backing. # Addax Petroleum Corporation (ADXTF.PK): Addax has a 45% working interest in Taq Taq, a currently producing oil field, and another 26.67% interest in the Sangaw North PSC. Starting June 1st, 2009, Addax began exporting oil from Taq Taq, a historic event for Kurdistan. HALLIBURTON halliburton.gifThe decline in Iraq's oil industry and the delay of exportations is likely due to the managerial deficiencies such as the hiring of US Halliburton subsidiary Kellogg Brown & Root (KBR) without a tender to rehabilitate southern Iraq and pipelines carrying water to oilfields in southern Iraq in the Qarmat Ali Water Plant. The contract did not include the repair of the pipelines carrying the water to the oilfields, therefore the water was pumped into the ground and old pipes burst, spilling large amounts of water into the desert as well as farmers tapping the water pipes in order to irrigate fields. Then, the Army Corp of Engineers had the responsibility for rebuilding oil pumps and pipelines and they admitted they did not have oil production experience. The KRG and KBR then signed a USD 70 million contract to rehabilitate part of the pipeline system, however, KBR was only able to fulfill half of the contract, thereby preventing a couple of million barrels from being transported that had to be re-injected into the ground, a practice which is harmful to oilfields. DNO DNOCoLogo.JPG Remarkably, an oil find documented in 2005 in northern Iraq by a small Norwegian company DNO expects to use trucks with a capacity of about 15,000 barrels per day (bpd) to bring the crude to the Iraqi domestic market for refining. However, delays in passing the petroleum law as well as insurgency and crime likely have prohibited exportation of this oil. Oil companies that have signed deals with Iraq's ambitious and mostly independent northern KRG region have subsequently had conflicts with INOC in Baghdad which has caused disagreements between the northern and central regions. These conflicts are likely complicating the deals made by the KRG. RELIANCE LTD. REL.jpgOn 8 November 2007, the KRG signed new PSAs with India's Reliance, who won two contracts for the Rovi and Sarta blocks. Reliance is investing USD 15.5-17.5 million for the two blocks that could likely hold one billion barrels of oil reserves. Under the terms of the contract, Reliance Exploration & Production, DMCC, a wholly owned subsidiary of RIL, will serve as the operator. OMV omv.gifOn 6 November 2007, Austria's OMV was awarded with two PSAs in the Mala Omar and Shorish blocks, through its 100% subsidiary OMV Petroleum Exploration GmbH. The signed PSAs for OMV as the operator of exploration blocks with the KRG covers approximately 800 square kilometers and location is in the vicinity of Erbil, the capital of the Kurdistan Region of Iraq. Work on these blocks will likely start sometime in 2008 with the acquisition of 2D seismic technology followed by the drilling of an exploration well in each block over the next three years. On 7 November 2007, Gulf Keystone International Petroleum Limited (GKPL) signed a PSA as operator for the Akre-Bijeel block with the KRG. The PSA is divided as GKPL 75%, Kalegran 20% and Texas Keystone 5%. Gulf Keystone will carry Texas Keystone's 5% share of initial costs and expenses prior to drilling the first well. The planned activity includes the acquisition, processing and interpretation of 100 kilometres of 2D seismic and the drilling of one exploratory well, and are in line with the terms and conditions published by the KRG. GKPL is a US (Texas) independent oil & gas exploration company, Kalegran Limited, is a subsidiary of MOL Hungarian Oil and Gas Public Limited Company (MOL). The PSA is for exploration, development and production of hydrocarbon resources in the Shaikan Block in the Dihok area of the Kurdistan Region in Northern Iraq. Location of the Shaikan Block is approximately 85 kilometers Northwest of Erbil and covers an area of 283 square kilometers. KRG also signed five new petroleum PSAs to one NOC and four IOCs. All the deals specify 15% of profits on any commercial discoveries to the operators with the remaining to the KRG. On 10 November and 12 November, 2007, signing of the five contracts occurred during the political friction of the new petroleum law between Baghdad and the KRG, as follows: TNK-BP TNK.jpgNorbest Limited a subsidiary of Russian TNK-BP signed for four blocks of the Hawler contract area consisting of 1,532 square kilometers in Erbil Governorate. The Hawler area comprises blocks K11, K12, K14, K15 and is considered to be low to medium exploration risk areas, likely defined as high to medium profitability area. KOREA NATIONAL OIL CORPORATION (KNOC) KNOC.jpgKorea National Oil Corporation (KNOC) signed the Bazian block consisting of 473 square kilometers in the Sulaimani Governorate. The consortium of the Korean NOC consists of: SK Energy Company, Limited, Daesung Industrial Company, Ltd., Samchully Company, Ltd., Bum-Ah Resource Development Corporation, UI Energy corporation, GS Holdings Corporation and Majuko Corporation with the area in Iraq considered to be a low exploration risk area, likely defined an area likely to be profitable. The other four PSAs went to Korean Hillwood International Energy Company the Sarsang block in Duhok Governorate with the area considered a medium exploration risk area; UK-based Sterling Energy the Sangaw North Block, consisting of 492 square kilometers in Saulaimani Governorate and considered a low exploration risk area; and finally Aspect Energy, LLC, described as a US-based company from Denver, CO, awarded the Atrush block considered to be a low exploration risk area. The KRG also renewed five older PSAs to Turkey's Genel Enerji and Toronto-listed Addax Petroleum; Canadian Western Zagros; Cayman Islands Hawler Energy and A&T Petroleum; and Shakal, Trilax and Turkey's Petroleum and Petroleum Products International Exploration and Production Incorporated (PETOIL) to bring the deals in line with the Kurdish law for Norway's DNO (previously mentioned), and a service contract to government-owned Kurdistan National Oil Company (KNOC). KNOC will likely develop the Khurmala field with peak estimated output of 250,000 bpd, and build a 50,000 refinery to supply natural gas and fuel oil for power generation. The following investments are noteworthy in terms of hydrocarbon industry's move toward integration of upstream, midstream and downstream aspects of projects and future investments: The week of 17 December 2007, the kurdistan Regional Government and Ergil, a Turkish storage tank construction and service company, secured an oil terminal construction of Suleymania Fuel Storage Tank Project. Ergil sets up secure environments in high risk countries, and this is the first post-war oil storage terminal investment in KRG's reconstruction initiative. .
