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All the oil news

1. General

2. In Kurdistan activities of foreign oil companies

3. History of the oil industry in Iraq and Kurdistan

4. Iraq

1. General

Iraq has 115 billion barrels tested (220 billion barrels of tested and assumed), the world 3 largest oil
reserves. There are also 110Tcf of gas reserves. Perhaps these figures should be corrected soon top,
because in the north of Iraq in Kurdistan 2009/10 were huge discoveries made.

The Iraqi oil industry is entirely in state hands. 4 companies - Midland Oil Company "," South Oil
Company, Misan Oil Company (MOC) and the North Oil Company "- are responsible for exploration
and production. The sale will also state-owned "State Oil Marketing Organization (SOMO) in
Baghdad before the.

In the north of Iraq's Kurdistan autonomous region located about 45 billion barrels oil store - Position
6 in the world. Including one of the largest oil fields in the world-the Kirkuk oil field with about 10
original-16 - billion barrels. As drill results from 2007 - Show 2009, located in the region, however,
several areas with more than 1 billion barrels of oil. Obtained test production rates have been drilled

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to rank among the highest in the world. Up to 40,000 barrels per day (bopd) are very impressive.
These giant oil fields are also fundamental for the long dispute between the Kurdish Regional
Government - Kurdistan regional government (KRG) and the central government in Baghdad. Since
2003, Company has the Kurdish government about its subordinate companies Kurdistan Exploration
and Production Company (KEPCO) and Kurdistan National Oil (KNOC) - many Western oil
companies Production Sharing Contract's (PSC) for the exploration and exploitation of oil and gas
fields, concluded with . Baghdad saw the contracts as illegal and gave no approval for the promotion
and export of oil.

It then changed in mid 2009. On 8 Baghdad in May 2009 gave it permission to export the Kurdish oil.
From 1 June 2009 60 000 bopd flowed daily from the Tawke field (DNO), and since end-June 2009
40 000 bopd from the Taq Taq field (Genel Enerji (Turkey) and Sinopec)). Of these, 80-90000 bopd
pipeline from Kirkuk to the Mediterranean Sea after Ölverladehafen Cheyan (Turkey) exported about.
Since the Kurds for the oil supplies of the State Oil Marketing Organization (SOMO) in Baghdad
were given no money, they set in September 2009, exports again.

On 10 January 2010 then the message that Kurds and Baghdad had agreed to and exports be resumed
immediately.

The maximum flow rate from the Tawke and Taq Taq field is ramped up, approximately 250,000
bopd together.

Within 3 years, will Kurdistan export amount to 1 million barrels per day increase. But Kurdistan is
planning to build a pipeline to Ceyhan pipeline to run parallel to existing.

2. In Kurdistan activities of foreign oil companies

A & T Petroleum, Turkey

Aspect Energy, U.S.
Crescent Petroleum, UAE
Dana Gas, UAE
DNO, Norway
Genel Enerji, Turkey
Ground Star Resources, Canada
Gulf Keystone Petroleum, UK
Heritage Oil and Gas, Canada
Hillwood International Energy, U.S.
Hunt Oil, U.S.
Kalegran / MOL, Hungary
Korea National Oil Corporation, South Korea
Longford Energy, U.S.
Marathon, U.S.
Murphy Oil, U.S.
Niko Resources, Canada
Norb, Russia
Oil Search, Australian
OMV Petroleum Exploration, Australia
Perenco, France
Pet Oil, Turkey
Prime Natural Resources, U.S.
Reliance Energy, India
ShaMaran Petroleum, U.S.

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Sinopec, China
Sterling Energy International, U.S.
Talisman Energy, Canada
Texas Keystone, U.S.
Vast Exploration, Canada
Western Zagros, Canada

State companies:

Kurdistan Exploration and Production Company (KEPCO), Kurdistan National Oil Company
(KNOC)

3. History of the oil industry in Iraq and Kurdistan

Iraq has 115 billion barrels tested (220 billion barrels of tested and assumed), the world 3 largest oil
reserves. There are also 110Tcf of gas reserves. The pipeline network consists of 7.000km. 2 with 1.5
million bopd capacity pipeline connecting Beiji (near Kirkuk) to the Mediterranean port Cheyan
(Turkey). Up to 45 billion barrels of oil in the north in the autonomous region of Kurdistan , including
a large part in the Kirkuk field. Kurdistan is dominated geographically by the [[Zagros Mountains]]
mountains. It was created in [[Miocene]] as the Asian and Arabian tectonic plates collided and the
intervening Tethys Sea 'disappear.

As of mid-to late-19th Century in the United States and the region of Baku on the Caspian Sea oil
production at oil rush was happening, including the current territory of Iraq (then counted the area of
Mesopotamia) to feel anything at all. It should also last for many years until the oil exploration
geologists towards flying off to Iraq.

There were some indications of the presence of oil in the region. So-called "oil seeps" (visible oil
spills on the surface) were found in many places.

1879 then quoted the Austrian Emil Tietze in an article that near Kirkuk, the oil on the exploration by
geologists in wait.

On behalf of the Turkish Empire] deals [[Calouste Sarkis Gulbenkian] from 1891 with Mesopotamia
and the ways to where the suspected oil. He recognizes in connection with the preparation of a report
regarding the chances of the oil in the region.

The first wells led geologist and petroleum engineer 1902-1903 George Bernard Reynolds Chiah
Surkh by the. The holes were oil and gas reserves, however, were more promising for drilling further
south, were stopped.

The Anglo-Persian Oil Company (APOC) in 1908, after the discovery of large oil field in Masjed
Soleiman , Iran - was founded. APOC was the first company, the oil reserves of the Middle East took
advantage of. APOC 1935, the Anglo-Iranian Oil Company (AIOC) renamed. In 1954 it is the British
Petroleum Company (BP) produced. BP was then up to the Islamic revolution in Iran in 1979 worked.
[[ Ayatollah Khomeini ]] confiscated all of BP's assets without compensation. 70 years presence in
Iran came to an end.

Only the discovery of the Iranian oil field Masjid Sulaiman in 1908 by the Anglo-Persian Oil
Company (APOC) meant that the Iraqi oil also gave more attention.

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The Anglo-Persian Oil Company (APOC) examined the 1902-03 drilled area in 1909 again and
encounters an oil bubble that they Naft Khaneh "House of Oil") named (.

The field was developed by the APOC daughter Khanaqin Oil Company in 1925 and 1927 was Iraq's
first pipeline and refinery.

With the beginning of the 20th Century, then start German, French, British and American diplomats,
businessmen and oil of Mesopotamia to care for and negotiate with the Sultan Abdul Hamid of the
Turkish Empire.

1912, Sir Ernst Casel the Turkish Petroleum Company (TPC) in London. Involved are German Bank
and Royal Dutch Shell, but not Anglo-Persian Oil Company (APOC).

1914 TPC begins with the exploration for oil in the provinces of Mosul and Baghdad.

The TPC is being restructured. The investments were as follows: 50% British (Turkish National Bank
and D'Arcy Group, a subsidiary APOC), 25% German bank and 25% Royal Dutch Shell.

2.5% of Royal Dutch-Shell and 2.5% of the D'Arcy Group's shares received Gulbenkian. The basis of
his name "Mr. Five Percent. "(J. B. Henson Norwich and recount his life in a 1987 book, Mr. Five
Percent.)

1920/21 came from the three Ottoman provinces of Baghdad, Mosul and Basra today's Iraq.

1921-1933, Sultan Faisal became the first ruler of Iraq.

The British and French agreed in 1920 that French, German interests in the Turkish Petroleum
Company take over.

In March 1925, the Turkish Petroleum Company (TPC), a new concession by the Iraqi government.
Shortly after, geologists began to American, British and French with the investigations and submitted
at Palkhana and Kirkuk been well sites,

In April 1927 the Turkish Petroleum Company began with the drilling of 2 W ells at Palkhana and 4
in other places, including 1 in Kirkuk. Only one bore finds oil. It is 14 October 1927, as from the well
Gurgur Baba ("Father of Flames") No.1 oil giant fountain in the sky Shoots. 9 days, pour the day 95
000 barrels (36 API, 2% sulfur content) in the environment before you can seal the hole. The giant
Kirkuk oil field is discovered.

1928 owner has the TPC following: APOC (23.75%), Royal Dutch / Shell (23.75%), Compagnie
Francaise des Petrole (23.75%), Near East Development Corporation (joint venture of several U.S.
companies - Jersey Standard, Socony, Gulf Oil, Pan-American and Arco) (23.75%) and Mr.
Gulbenkian (5%).

1929), the Iraq Petroleum Company (TPC) in the Iraq Petroleum Company (IPC renamed.

The following year, the Iraq we irrespectively of the British.

At the end of 1930, Kirkuk field are 20 holes drilled and produce oil. 1934 Oil exports will begin on
the pipelines to Tripoli ( Lebanon ) and Haifa . It is Iraq's largest oil field. It stretches over 100 km in
length and 12km wide and has a 610m thick oil-bearing layer. The original amount of oil in the field
is 16 billion barrels mentioned. Thus, it had about 1 / 5 of the amount of oil, the largest oil field in the

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world, Ghawar in Saudi Arabia and one of the so-called "super giants". It is the center of the northern
Iraqi oil production .

1932 and 1938 Iraq's oil activities in the regulated. East of the Tigris, the Iraq Petroleum Company
(IPC) is active, the northwestern part falls within the jurisdiction of the [[Mosul]] Petroleum
Company and in the south to the Basra Petroleum Company.

1973 companies are those 3 together and nationalized.

The National Iranian Oil Company (NIOC) is founded in 1951.

Crude oil production increased steadily since 1969 and reached its peak in 1979 with 3.5 million
barrels per day (bopd). The war with Iran, and the 1 Gulf War meant that the oil production collapsed.
900,000 bopd in 1981 and 1991, then promoted only 300 000 bopd.

2009

Since 1 June 60 000 bopd per day flow from the Tawke field (DNO), and since end-June 2009 40 000
bopd from the Taq Taq field (Genel Enerji (Turkey) + Sinopec (China) on the pipelines to the
Mediterranean Sea Ölverladehafen to Ceyhan (Turkey). the end of 2009 should the export volume of
both fields are at 250,000 bopd.

Kurdistan is, however, exports in September again, as it agreed with Baghdad on the payment
arrangements are not any.

On 17 May acquired on the Austrian OMV and Hungarian MOL shares in the Khor Mor gas field
and Chemchemal. From 2014-15 to the fields every day from 3 billion cubic feet (= 3BCF = 500,000
boe) gas into Europe. OMV and MOL are shareholders in the planned Nabucco pipeline and
construction. See oil production on the Caspian Sea.

Heritage Oil announced in May (London Hoiles) the discovery of a massive oil reserves. The 710 m
thick oil-bearing layer containing 2.3 to 4.2 billion barrels OOIP (see above oil / gas lexicon).

In September, reported Gulf Keystone Petroleum (GKP London) in the Shaikan block near Dihok-a
huge oil discovery. Well Shaikan 1 strikes 2.950m overall length to more than 700 oil-bearing strata.
There möglicherweiwse store up to 10-15 billion barrels, as the CEO in an interview on CNN said
was. While the drilling platform soon in 2nd 4 blocks down the market of a bore will find a detailed
study on Shaikan a workover rig instead. Then the latest data are accurate to the reserves in this block
expected to. From the end of 2010 the production from the well with first 8-10000 start bopd.

OOIP in bln. Bopd

Area (km 2) Participating alongside KRG
barrel production

Kirkuk field KRG 9-10 (2p) 400-600.000

Shaikan (283) GKP 51%, MOL 20% 10-15 18 000 ***

Akri-Bijeel (890) GKP 12.8%, MOL 80%
Sheikh Adi (180) GKP 80% >1

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Ber Bahr (3 50) GKP 40%, 40% Genel 1,9

Miran (1000) Heritage 2.3 to 4.2

Tawke DNO 55% 0.230 (2p) 60,000 *

Dohuk DNO 40%
Erbil DNO 40%
Taq Taq (950) Genel, Sinopec 0.350 (2p) 40.000 *, **
Sterling Energy 53%, Sinopec,
Sangaw North (500)
Korean NOC
Qara Dagh (Black Niko Resources, Vast Exploration
2,3
Mountain) (846) 37%, 6% Groundstar
Kalar Bawanoor (2,100)
WesternZagros 40% Talisman 40% 4 -5
(Block 44)
Pulkhana, Arabat ShaMaran Petroleum
Block K 42 ShaMaran Petroleum, Oil Search
Shakal Oil Search 15%
Chia Surkh (938) (block:
Longford Energy 0.132 (2p)
K46, K47, K48)
Khalakan (624) (block:
Range Oil, Gas Plus Khalakan
K28, K29)
Bina Bawi Petoil 20%, Hawler Energy
Sindi-Amedi (2,358) Perenco
Block 39 Talisman
Harir Marathon Oil 80%
Safen Marathon Oil 80%
Sarsang Marathon Oil 25%
Atrush Marathon Oil 20%
Central Dohuk (619) Murphy Oil 50%

KRG: K urdistan R egional Government

* Export

** First truck to transport oil by oil export pipeline

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*** 18 000 bopd capacity. but currently only 2,500 bopd - no export

4. Iraq

In June and December 2010 were awarded to the fields listed below irkakischen stakes in Western oil
companies. The investments provide for fixed payments per barrel. If the plans are met, the promotion
of Iraq rises of 2.5 million bopd bopd to 12 million in 2016. This would be Iraq's biggest oil producer
in the world. This dramatic expansion of the promotion will swallow hundreds of billions of dollars.
Added to this is a significant need for skilled workers to Ölbohrausrüstungen, pipelines and all that
goes with it. Therefore, experts doubt that Iraq can achieve its goals.

2p in bln. Max production

Field Company
barrel target in bopd
Rumaila CNPC BP +, $ 2 per barrel 17 2.8 million

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Royal Dutch Shell Malaysia's Petronas +, $

Majnoon 13 1.8 million
1.39 per barrel
West Qurna
Exxon Royal Dutch Shell +, $ per barrel 8 2.3 million
Phase 1
West Qurna
Lukoil + Statoil Hydro, $ 1.15 per barrel 12 1.8 million
Phase 2
Halfaya CNPC + Total + Petronas 4 535.000
Gazpromneft + Korea Gas (KOGAS) + +
Badra 2 170,000
Petronas TPAO, $ 5.50 per barrel

Garraf Petronas + Japex, $ 1.49 per barrel 0,860 230,000

Najmah Sonangol
Qaiyarah Sonangol
Middle Furat no bidder

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Comments (2) Leave a comment

1.
Vitautas
5. July 2010 at 17:00 | # 1
Reply | Quote

Good work!

2.
Carl Roe
27. March 2011 at 13:02 | # 2
Reply | Quote

THE BEST INFORMATION I HAVE READ SO FAR ON THE KURDISTAN OIL

INDUSTRY AND THE FUTURE PROSPECTS,

THANK YOU.

TAEPING

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Kurdistan "maximum profit Page 9 of 9

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