The Kurdistan Regional Government’s creative settlement with the Pearl Petroleum consortium in July 2017 is paying dividends (MEES, 13 July). Production capacity at the consortium’s Khor Mor gas field in the region’s southwest was this week boosted 30% from 305mn cfd to 400mn cfd through debottlenecking (see chart).
This was the result of the conclusion in August 2017 of a long-running and often acrimonious dispute (MEES, 1 September 2017). Under this agreement, Erbil agreed to pay Pearl $600mn up front in addition to $400mn ‘dedicated exclusively’ for investment. (CONTINUED - 458 WORDS)