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The past week has brought a number of notable developments for the oil and gas sector in Iraqi Kurdistan with the release of independently audited results, a major oil sales agreement for the Shaikan field and a return to exploration by US major Chevron.
Six months ago these developments would have been perceived as evidence that the sector was ready to take the next major step forward. But then the region’s chances of economic self-sufficiency were dramatically reduced by the tough backlash from Baghdad to the KRG’s September independence referendum – Baghdad re-took the key Kirkuk fields ( MEES, 19 January ) and has frozen the KRG out of 2018 budget payments.
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