Kurdistan Regional Government
SAT, 16 FEB 2019 16:56 Erbil, GMT +3

Kurdistan Region: Norwegian Firm Strikes Oil in Kurdistan

TUE, 29 NOV 2005 20:59 | AKI

KRG's Prime Minister Nechirvan Barzani delivers his speech at the opening ceremony of Zaxo's first oil production facility
Erbil, 29 Nov. (AKI) - A Norwegian oil company has begun oil prospecting in Iraqi Kurdistan in what's believed to be the first drilling by a foreign group in the area since the fall of Saddam Hussein in 2003. The firm, DNO, said drilling in the well near the city of Koysanjak, some 70 kilometres from the regional capital Erbil, is expected to reach a depth of 3,000 metres within sixty days and that there were other reserves to be explored in the area.
The company said this was the first oil exploration undertaken following a production sharing agreement signed with the Kurdish authorities in June 2004.

At the opening ceremony, the Kurdish prime minister Nechirvan Barzani, said that "this wealth will be dedicated to the service of the people of Kurdistan who have suffered many years from being excluded from the resources of the country, which were used by Iraqi governments to oppress and persecute them".

For its part the director of the Norwegian company declared that "this first project is an important step forward for the region."

Currently there are more than 180 wells and refineries in the region which over the past five years have provided for the local energy needs of the population, even if they fall below accepted international standards.

The Iraqi government has also decided to build a new refinery in the region that meets world standards to guarantee Iraqi Kurdistan a flow of energy which from time to time is lacking.