Taq Taq decline highlights Kurdistan oil woes
Once billed as the crown jewel in Kurdistan's oil sector, the Taq Taq field has suffered from payment delays, reduced investment, and overhyped expectations.
A flare burns at the Taq Taq oil field. (STAFF/Iraq Oil Report)
ERBIL - Within two years, production at one of Kurdistan’s flagship oil fields has collapsed by about 75 percent.
The rapid decline of the Taq Taq field is an emblem for Kurdistan’s struggling energy sector, where low oil prices and payment delays have left companies without adequate incentive to invest in production capacity.
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