Royal Dutch Shell refused to participate in oil projects in Iraqi Kurdistan, reported citing people familiar with the newspaper Financial Times.
The company has suspended talks with local authorities to maintain a presence in southern Iraq. Especially since what is at stake in gas field contract worth $ 17 billion approved last Thursday by Iraqi authorities.
The reason for not very long-term deals - the position of the central Iraqi authorities. Because of the differences between the regional government of Iraqi Kurdistan, which enjoys broad autonomy, and the central government in Baghdad, Iraq, oil companies are investing in the fields of Kurdistan, denied the opportunity to participate in oil projects in the south. In such a situation was the American Exxon Mobil. Last week the company signed a contract to explore for oil in Iraqi Kurdistan, which caused criticism from the central Iraqi government threatened to deprive her of her license. It is assumed that interest in the oil fields in Iraqi Kurdistan exhibits Chevron, but unlike its competitors, the company has no contracts in southern Iraq.
Meanwhile, Genel Energy, owned by the former head of investment company Vallares BP, Tony Hayward and financier Nathaniel Rothschild is preparing to double the production in Iraqi Kurdistan from the current 100 thousand barrels per day and build a pipeline that will start the export of raw materials through Turkey. However, one of Kurdistan Genel Energy is not going to be limited. Tony Hayward said on the conference ended in Erbil on oil and gas deposits on the purchase of new company is willing to spend almost $ 400 million and will look to transactions outside of Iraqi Kurdistan, such as Libya and Egypt. On the balance of Genel Energy, planning to spend November 22 listing in London, is about $ 2 billion in cash.
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