Kurdistan spearheads Iraq oil investment
Kurdistan Regional Government
2 October 2007
Erbil, Kurdistan Region, Iraq
The Kurdistan Regional Government (KRG) Ministry for Natural Resources today announced that the KRG Regional Oil and Gas Council has approved four new production sharing contracts (PSCs) and sanctioned two new refinery projects in the Kurdistan Region in Iraq. The announcement came a day after the Council unanimously decided to award the contracts at its second formal meeting.
Erbil, Kurdistan - Iraq (KRG.org) - The Kurdistan Regional Government (KRG) together with Hunt Oil Company of the Kurdistan Region, a subsidiary of Hunt Oil Company of Dallas, Texas, and Impulse Energy Corporation (IEC) announced today that they have signed a Production Sharing Contract (PSC) covering petroleum exploration activities in the Duhok area of the Kurdistan Region. Under the terms of the agreement, Hunt Oil Company of the Kurdistan Region will serve as operator. This is the first PSC to be signed by the KRG since the Oil and Gas Law of the Kurdistan Region was issued by the Kurdistan National Assembly (parliament) in early August, 2007.
Today is a proud day for the people of the Kurdistan Region. This is a historic moment. In years to come, we will look back and see the passage of this law as a turning point in the fortunes of our Region.
The Kurdistan Regional Government (KRG) is pleased to publish the final draft of the Kurdistan Region Petroleum Law in ARABIC and ENGLISH, which has now been approved by the Legal Committee of the Council of Ministers. In its next meeting the Council of Ministers will review the law and is expected to put it to the Kurdistan National Assembly (parliament) for approval.
Deputy Minister for Foreign Affairs Lapo Pistelli met today in Rome with the Head of Foreign Relations of the autonomous region of Iraqi Kurdistan Falah Mustafa Bakir, with whom he discussed humanitarian support for Syrian refugees in the autonomous region. Following the deputy minister’s mission to Erbil in October, the Italian Cooperation dispatched emergency humanitarian to be added to the response to the UNICEF appeal for drinkable water for the 27,000 refugees in 3 camps there. New humanitarian initiatives on behalf of the refugees are being examined within the context of the additional resources the Italian government intends to earmark in fulfilment of Premier Letta’s pledges at the St. Petersburg G20.
Today the world lost a great political leader who valued democracy and peace more than his own lost life in prison.