In a statement, the company disclosed its talks with the Turkish Energy Company to have partnership in investing Kurdish natural gas in the region.
The latest financial report of the company revealed that it has "bad financial situation during the past three years" due to the second estimation's decline in oil prices and the reserves in the main oilfield in the region.
Oil production in Taqtaq oilfield was declined by 37% in comparison with 2015, with an average of 50.000 b/d.
The statement added that there was a previous agreement with the Kurdish region and Turkey to export the national gas, so "the new strategy of the company in 2017 is to find a partner to develop natural gas projects and building a gas-export pipeline".
Source: Iraq TradeLink