Exxon cuts Kurdistan portfolio by half

The American super-major, whose 2011 contracts with Kurdistan spurred an investment bonanza, has relinquished the Qara Hanjeer, Arbat East, and Betwata blocks.
Exxon cuts Kurdistan portfolio by half
ExxonMobil CEO Rex Tillerson (second from left) meets with KRG President Massud Barzani (fourth from right) and other senior Kurdish officials in Davos, Switzerland, on Jan. 23, 2013. (Photo credit: Kurdistan Regional Government)

LONDON/ERBIL - ExxonMobil has walked away from three of the six exploration blocks it operated in the Kurdistan region.

The U.S. super-major relinquished its interests in the Qara Hanjeer, Arbat East, and Betwata blocks, according to Kurdistan's Minister of Natural Resources Ashti Hawrami and Exxon spokesperson Lauren Kerr. The company retains 80 percent operating stakes in the Al Qosh, Pirmam and Bashiqa blocks.

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