Huge Oil reserve discovered in Kurdistan

Added by Ibrahim Khalil on April 10, 2013. Saved under Business Tags: Kurdistan (IraqiNews.com) The Turkish Company (Kennel Energy) announced discovering a huge Oil reserve in Kurdistan Region. The Turkish Company mentioned in statement “The Turkish companies (Kennel Energy) and (Petuwel), which are investing in Kurdistan Region, announced discovering a huge Oil reserve in (Cheaa Sorkh) Oil field located in northern Iraq.””The company conducted a study on the Oil field, which considered one of the most important Oil field in Iraq, and decided to drill five wells to extract Oil,” the statement added.The statement quoted the executive director of the company as saying “The Oil quality in Cheaa Sorkh Oil field is one of the finest kind of Oil and the production capacity estimated for the Oil wells reach (11,950) Oil barrel per day in addition to the natural gas.”

Iraq occupies 3rd position in world oil reserves

Added by Ibrahim Khalil on April 10, 2013. Saved under Business Tags: Baghdad, Iran, Saudi Arabia Baghdad (IraqiNews.com) Iraq announced rising oil reserves to reach (150) billion barrels. The Minister of Oil, Abdul Karim Laibi, reported a in press statement received by IraqiNews.com that “The Iraq oil reserves increased from (143,1) billion barrels to reach (150) billion barrels after a new study for productive oil wells in Dema oil field.” According to the BB statistic report for the global energy sector Iraq occupies the third position on OPEC in terms of oil reserves after the Kingdom of Saudi Arabia and Iran. Read more: http://www.iraqinews.com/business-iraqi-dinar/iraq-occupies-rd-position-in-world-oil-reserves/#ixzz2Qdr49GaT

Betting on Iraq

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