Turkey preparing major Kurdistan oil entry

In a move that would bolster Kurdish oil autonomy, a new Turkish state company is negotiating with the KRG to take stakes in at least five exploration blocks.
Turkish Energy Minister Taner Yildiz (L) and KRG Minister of Natural Resources Ashti Hawrami at a press conference in Erbil, May 21, 2012, after announcing joint cooperation on oil, gas and fuel exports. (AZAD LASHKARI/Reuters)

ERBIL - A new Turkish state oil and gas company is negotiating with Iraq's semi-autonomous Kurdistan region to take stakes in several exploration blocks – a development that would signal dramatic headway for the Kurds in their quest for oil sector autonomy.

No contracts have been signed, but four officials familiar with the talks confirmed that negotiations have reached an advanced stage.

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