Tigris Oil luring investors for Salahaddin venture
After signing an oil deal in a restive northern Iraqi province, a small Swedish company is attempting an investment push despite major complications that could undermine the project.
A flare burns at the East Baghdad oil field. (KAMARAN NAJM/Metrography/Iraq Oil Report)
Swedish start-up Tigris Oil, which signed a production sharing contract with Salahaddin province officials in 2011, has ramped up a search for investors to support the controversial deal in northern Iraq.
As the project gains momentum, it appears to be heading toward serious legal and political complications – highlighting the ways in which Iraq's failure to pass modern hydrocarbon legislation has primed the country's oil sector for conflict.
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