Chevron, Genel 2020 KRG Vision

Anglo-Turkish independent Genel and partner Chevron aim to bring online the Sarta field in Iraqi Kurdistan in 2020. The partners (Chevron 50% op, Genel 30%, KRG 20%) took FID this week on ‘Phase 1A’ development at Sarta which is set to be the first new field brought online since Atrush (Taqa 39.9%, Shamaran 20.1%, Marathon 15%, KRG 25%) in July 2017 ( MEES, 14 July 2017 ).

Momentum is again building in Kurdistan’s oil sector, and Chevron is not the only US Major eying production startup. ExxonMobil is developing the Baeshiqa license (DNO 32%op, ExxonMobil 32%, Turkish Energy Company 16%, KRG 20%) in the contentious hinterland with federal Iraq. A first well is now being tested and the partners are looking at fast-tracking development. Sarta and Baeshiqa may be in a race to be the first to startup. (CONTINUED - 365 WORDS)