On Thursday, the Korea Gas Corp. (Kogas) and the Oil Ministry finalized the long-delayed deal to develop Akkas, Iraq's largest discovered dry gas field, which holds 5.6 trillion cubic feet of Iraq's estimated 112 trillion cubic feet of gas reserves.The company now has to turn the virtual non-producer into a field that pumps 400 million standard cubic feet per day within seven years and hold that output for 13 years, earning costs plus $5.50 for each barrel of oil equivalent produced.Ther...
BEYOND THE HEADLINES
U.S. oil major Chevron is pressing forward with new drilling and exploration activities in Iraqi Kurdistan.
- Kurdistan export pipeline nearly complete
- Army brigade defects in disputed territories
- Maliki's Erbil visit opens door to oil talks
- In disputed territories, a thin line between politics and violence
- Tigris Oil luring investors for Salahaddin venture
- KRG gas plant's potential hangs on negotiations
- Q&A: Ali Musawi, Adviser to the Prime Minister
- Oil police killed along export pipeline, workers kidnapped
- Sectarianism, violence overtake political leadership
- Exxon, Chevron push Turkey-Kurdistan ties
Ben Lando discusses Iraq's historic milestones in oil production this year. Click here to watch.