Kurdistan government agrees to develop "Acre" oil field

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Kurdistan government agrees to develop "Acre" oil field

 

      Friday   31   October   2014 | 8:29

 

 

 

 

 

"Gulf Keystone Petroleum" participates in the "Acre" project share of minority partners is scheduled to be implemented in two phases of the project

 

 

Kurdistan Regional Government agreed to develop a new oil field in which the company "MOL" Hungarian owns a majority stake in it plan, this comes at a time which gave the Minister of Natural Resources in the Kurdistan green light to a plan to develop a franchise "Acre" next to the field Sheikhan largest oil fields in the region after a year of discovery MOL sufficient quantities of raw give the project commercially viable. And forced a number of operating oil fields in Kurdistan companies to cut production temporarily this year, with the progress of the militants "Daash" who formed a threat to the security of the workers.  He said Alexander Dodds, executive vice president for upstream activities in the Hungarian company "The MOL Group is committed to to maintain its presence and increase its investments in the region, "and involved" Gulf Keystone Petroleum "in" Acre "project a minority stake is scheduled to be partners implemented the project in two phases. First start immediately focused on crystallizing some details such as the volume of oil that can be extracted and total costs.