Hacked emails reveal details of Exxon’s Kurdistan activity
Disappointing exploration results drove Exxon to relinquish half of its Kurdistan portfolio, according to private correspondence with Turkey's energy leaders published by Wikileaks.
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)
Five years and $1.1 billion after making a politically tumultuous decision to invest in the Kurdistan region of Iraq, ExxonMobil's oil exploration has yielded only modest results.
Internal memos and correspondence from both Exxon and its joint-venture partner, the state-run Turkish Energy Company (TEC), provide new insight into the American super-major's operations in Kurdistan and its recent decision to exit three of its six contracts with the Kurdistan Regional Government (KRG).
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