Complex Made Simple

Exxon pulls out of 3 exploration blocks in Kurdistan: Iraq media

* The oil company has walked away from its operations in the Qara Hanjeer, Arbat East, and Betwata blocks of Kurdistan

* Chevron, the second-largest U.S. oil company after Exxon Mobil, relinquished its interest in the Rovi block north of Erbil at the end of 2015

* In August, Iraqi state oil firm SOMO blacklisted three tankers involved in shipping crude from Kurdistan

 

Exxon Mobil has pulled out of half of the six exploration blocks it operated in the Kurdistan region, the Iraq Oil Report reported.

The oil company has walked away from its operations in the Qara Hanjeer, Arbat East, and Betwata blocks, the magazine reported, citing Kurdistan’s Minister of Natural Resources Ashti Hawrami and Exxon spokeswoman Lauren Kerr. http://bit.ly/2h1FYWo

 

(Shell considering selling its Iraq oil assets: sources)

 

“Some companies didn’t meet contractual deadlines and according to the contract had to relinquish their areas,” the minister was quoted as saying.

 

Kurdistan oil

Chevron, the second-largest U.S. oil company after Exxon Mobil, relinquished its interest in the Rovi block north of Erbil at the end of 2015 but continued to test wells in the Sarta area.

 

(Iraq’s Kurdistan region’s oil exports touch 18 million barrels in December)

 

Since 2014, international oil companies have renounced a total of 19 exploration blocks in Kurdistan, according to an analysis by the Iraq Oil Report.

In August, Iraqi state oil firm SOMO blacklisted three tankers involved in shipping crude from Kurdistan, swelling the dispute over oil revenue-sharing between Baghdad and the Kurdistan regional government.