UPDATE: At critical Kurdistan field, reserves fall again
It was the flagship project of Genel Energy, one of the KRG's lynchpin oil partners. Now the company says Taq Taq is less than 10 percent the size that was once advertised.
A worker for the KAR Group inspects the Taq Taq-Khurmala oil pipeline near the Khurmala Dome oil field. (KAMARAN NAJM/Metrography/Iraq Oil Report)
ERBIL - One of Kurdistan's iconic oil sector partners, Genel Energy, has once again steeply reduced its estimate of the amount of producible oil at its flagship field.
The precipitous decline of the Taq Taq field - once lauded as the crown jewel of the Kurdistan region for its high-quality crude - has stoked anxieties among investors who were already wary of an oil sector buffeted by an economic crisis and nearby war.
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