Turkish Prime Minister Recep Tayip Erdogan’s 14 May announcement that Ankara has a deal in place to invest with ExxonMobil in the US major’s controversial Kurdistan Regional Government (KRG) acreage dropped a bombshell on regional politics. But MEES soundings, both in Washington and Irbil, indicate that while a framework agreement has been reached, no final deal has been signed.

“There is a framework worked out, but what [Mr] Erdogan said is beyond what is actually in place is my understanding,” a US source tells MEES. A Turkish official concedes that much work needs to be done to make the deal a reality. (CONTINUED - 1168 WORDS)