The Kurdistan Oil Industry Association announces the joining of an American company[You must be registered and logged in to see this link.] |Today,
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Baghdad today - Kurdistan
The Kurdistan Oil Industry Association announced today, Thursday (December 7, 2023), that the American company (Western Zagros) has joined the foreign companies operating in the region.
“WesternZagros joins fellow American members of APIKUR, Hunt Oil and HKN Energy, who together represent more than $5 billion in American investments by these companies in the Kurdistan Region of Iraq,” the association said in its statement.
WesternZagros has two production sharing contracts in the Kurdistan Region of Iraq, which define the framework for the exploration and production of both crude oil and natural gas. These agreements define the financial parameters governing the development of oil and natural gas fields within the Kurdamir and Garmian blocks, with separate contracts allocated to each specific area.
WesternZagros is a privately held American company with offices in Calgary, Canada, and in Erbil and Sulaymaniyah in the Kurdistan Region of Iraq. It has invested more than $1 billion in oil and gas exploration and production in the Kurdistan Region of Iraq since 2005, and has made major discoveries in the field of oil and gas.
APIKUR members collectively produce more than 50 percent of the total oil in the Kurdistan Region of Iraq.
“APIKUR's voice has become stronger with the addition of WesternZagros,” said Miles B. Caggins III, APIKUR spokesman. “All APIKUR member companies share the same goal of fully resuming oil production and exports for the benefit of stakeholders, employees and the Iraqi economy.”
APIKUR members encourage all parties to reach a commercial solution that preserves their contractual rights and enhances the future investment climate in Iraq and the Kurdistan Region.
The goal and purpose of APIKUR is to promote the Kurdistan Region of Iraq as an attractive destination for international oil and gas companies, service providers and investors. In addition, APIKUR aims to advocate and represent the common interests of its members, act as a common and effective voice towards all relevant stakeholders whether in the KRI, or elsewhere, and provide a forum for its members to share appropriate general industry information and best practices.
Source: Petroleum Industry Association (APICOR)