As Kurdistan oil booms, deal-making accelerates
Erbil has entered an exuberant season of mergers and acquisitions, as super-majors rush in and smaller companies feel the pressure – from shareholders and the KRG – to cash out.
Workers at the Gulf Keystone Petroleum production facility at Shaikan in Iraq's Kurdistan region in May 2012. (SEBASTIAN MEYER/Metrography/Iraq Oil Report)
ERBIL - A decade after Iraqi Kurdish leaders signed their first oil contract, the semi-autonomous Kurdistan Regional Government (KRG) is poised to play host to what could be the industry's biggest asset bazaar ever.
In the latest developments, announced late Friday night, Abu Dhabi's national oil company TAQA bought a stake in the Atrush exploration block from American independent Aspect Energy. TAQA also sold its 20 percent share of the KRG-focused Canadian firm Western Zagros.
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