http://www.gulfkeystone.com/ The firms exploration programme in Algeria is going well and "the shares look good value", say the Investors Chronicle. Your comments please. goal.

http://www.bloomberg.com/news/2013-11-20/iraq-kurds-to-pump-oil-to-turkey-in-truce-with-baghdad.html


Iraq Kurds to Pump Oil to Turkey in Truce With Baghdad
By Selcan Hacaoglu & Onur Ant - Nov 20, 2013 8:28 AM GMT

Facebook Share
Tweet
LinkedIn
Google +1
0 Comments
Print
QUEUE
Q

Iraq’s Kurds plan to start pumping oil to Turkey next month via a pipeline controlled by the central government in Baghdad, signaling an easing of their dispute over resources, according to two people familiar with the plan.

The new line will take Kurdish oil into the existing pipe that runs from Kirkuk in Iraq to Turkey’s Mediterranean port of Ceyhan, initially carrying 150,000 barrels a day starting in December, according to the Turkish energy industry officials who asked not to be identified because the information isn’t public. An Iraqi energy industry manager, who requested anonymity for the same reason, said the state oil company has accounted for the extra oil in 2014 plans.

Ashti Hawrami, the Kurdish Regional Government’s natural resources minister, said at a press conference last month that the 40-kilometer pipeline will have a capacity of 300,000 barrels a day. Mehmet Sepil, president of London-listed Genel Energy, said at the same conference that the pipeline from Dohuk to Fishkabur on the Turkish border will carry 200,000 barrels a day from its Tawke and Taq Taq fields.

The Iraqi official said the Kurdish oil will be metered when it feeds into the main pipeline, at Fishkabur near the Turkish border, and again when it arrives at Ceyhan.

The agreement signals a truce on the issue between the Iraqi Kurds, who say they should have control over oil and gas resources in the north, and the Baghdad government, which argues that all energy transactions need central approval.
More Willing

Iraq’s government under Nouri al-Maliki, which has sought to block energy agreements between Turkey and the Iraqi Kurds, is struggling to control a wave of deadly sectarian attacks.

“Maliki is now more willing to taking to consideration the interests of Turkey and the Kurdistan regional government because he needs stability,” Stephen Larrabee of Rand Corp., a policy institute based in Santa Monica, California, said in an interview in Ankara.

Iraq’s Kurds want to raise oil production and expand beyond the capacity of current pipelines, and say they’ll build a link to bypass the Baghdad-run network.

Iraqi Kurdistan’s output may increase to 1 million barrels a day by the end of 2015 and 2 million barrels by 2020, Hawrami said on Oct. 31. Kurdistan currently exports 30,000 to 50,000 barrels a day in trucks to Turkey.

“As Iraq normalizes, Turkey will meet its energy needs through oil and natural gas deals with Iraq,” Turkish Energy Minister Taner Yildiz told NTV television in an interview in Paris today. “Contracts with northern Iraq and agreements with the central government are part of this chain and it will done transparently.”

Yildiz said a new oil terminal with similar capacity to Ceyhan may be built on the Mediterranean coast.

“The entry of northern Iraqi oil would not affect the price of oil in world markets but it is an important step for normalization of whole of Iraq and for Turkey’s supply security,” he said.

To contact the reporters on this story: Selcan Hacaoglu in Ankara at shacaoglu@bloomberg.net; Onur Ant in Ankara at oant@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net
More News:

Middle East ·
Sustainability ·
Energy

It would appear that the written judgement date is the 13th Dec?

Atlantic Council Summit

When it comes to northern Iraq, there is always speculation about the future. This is how John Roberts, senior partner at MeThinks Ltd., opened the session on the opportunities in the Kurdistan Region of Iraq (KRG). Questions range from the future of Iraq’s tremendous oil and gas resources to the role can it play in the region’s economic development and what, if anything, the Iraqis, their neighbors, and partners can do to overcome existing barriers.

In an attempt to explore new landscapes and development opportunities in Eurasia, the Atlantic Council Energy & Economic Summit devoted two sessions to barriers and opportunities in Iraq, and particularly in its northern region of Kurdistan. Panel members included government representatives: Kurdistan Regional Government of Iraq Minister of National Resources Ashti Hawrami, and Iraqi Member of Parliament Adnan Al-Janabi; and leaders from the private sector: Chevron VP for Europe, Eurasia, and Middle East Exploration and Production Ian MacDonald; General Energy CEO Tony Hayward; Crescent Petroleum CEO Majid Jafar; and Iraqi Energy Institute Executive Director Luay Al-Khatteeb.

Discussants agreed that the KRG has achieved tremendous success during the past decade and were very hopeful about the KRG’s future and the large cross-border energy projects.

“We set an example of how natural resources can be used for the benefit of ordinary people,” said Dr. Hawrami, who stressed more than once that the realization of large energy projects will benefit not only KRG residents, but all of Iraq. More importantly, he continued, it is economic and trade relations that build bridges between nations; a revival of Turkish-KRG relations is the best example of how trade can shape modern international relations However, the debate continues about how Iraq’s huge oil and gas resources can reach local and international markets. Hayward ensured the audience that big oil always finds its way to the market. Fluid and transparent cooperation between the KRG government and the major energy investors is another, more tangible, reason to be hopeful about the future.

“I am confident that oil and gas from northern Iraq will flow and that it will be a significant contribution to the Turkish and Iraqi economy,” said Chevron’s MacDonald.

Intensified bilateral relations between Turkey and the KRG; the US government’s open and unequivocal support for further exploration, development, and export of Iraqi energy resources; and the KRG’s readiness to continue discussing various schemes and mechanisms of revenue-sharing between Arbil and Baghdad further strengthen the general optimism for the future of the region

Http://gkpinvestor.proboards.com/thread/2361/strong-optimism-future-kurdistan-region
-------------------------------------------------------------------------------

Next week should give a clearer picture, via the SREAM Conference(dec 1-4).

it'll be very interesting to see what happens to Genel sp next week ..... read ST for more

"Shares in the oil explorer founded by former BP boss Tony Hayward and tycoon Nat Rothschild are set to soar thanks to the completion of a key pipeline."

Certainly one to keep an eye on!

which one GKP or GENEL?

one will follow the other at a guess

Genel initially probably but GKP may follow!

http://www.garda-world.com/events/entry/kurdistan-iraq-oil-gas-conference

Is a RNS imminent?

a pretty srn would be even more welcome :-)

http://www.gulfkeystone.com/media-centre/video-library

Interesting

Even an sen would do.........

what ho emu; you've been hiding for a while ...... hope all jolly on the mudflats of w-s-m and that the donkey rides and deckchair rental are still keeping you in champagne

hxxp://www.aljazeera.com/news/middleeast/2013/11/turkey-iraqi-kurds-seal-secret-oil-deal-2013112984836393182.html


Turkey and Iraqi Kurds seal 'secret oil deal'

Agreement to allow pumping of oil and gas through Turkey to world markets likely to anger Baghdad, reports suggest.

Iraqi Kurdistan President Massoud Barzani, left, held a meeting with Erdogan this week [Reuters]

Oil and gas from Iraqi Kurdistan will soon be exported via pipelines through Turkey, after a tranch of contracts were signed in secret this week, Reuters news agency reports.

The deals were reportedly completed on Wednesday during a three-hour meeting between Nechirvan Barzani, prime minister of the Kurdistan Regional Government, and Recep Tayyip Erdogan, Turkish prime minister.

The agreement is likely to anger officials in Baghdad, who claim dominion over all of Iraq's oil resources.

An official told Reuters on Thursday that such an energy deal would be "an encroachment on the sovereignty of Iraq".

The state-backed Turkish Energy Company (TEC), which Turkey set up to operate in northern Iraq, has also signed a contract to operate in 13 exploration areas.

In about half of those, it is teaming up with ExxonMobil, the US oil company.

The contracts also envisage the building of a new oil pipeline and a gas pipeline, aimed to help the region's oil exports to climb to one million barrels per day by 2015.

The gas flow is likely to start by early 2017.

">

http://rudaw.net/NewsDetails.aspx?PageID=27644

http://www.dailymail.co.uk/money/investing/article-2515723/INVESTMENT-EXTRA-Pipeline-transform-Kurdistan-oil-industry.html#ixzz2m7MxCqUf

as a holder of GKP, GENL and AFR i shall be more than happy if the forecast of eldorado just at the end of the rainbow does indeed come to pass before i die :-)

http://gkpinvestor.proboards.com/thread/2374/kurdistan-iraq-oil-gas-2013