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Rosneft Secures Gas Pipeline Deal in Kurdistan

Deal expands the company's dominance in Iraq's semi autonomous region

Rosneft has signed a deal to build a gas pipeline in Kurdistan and develop the areas gas reserves. This plan includes conducting a pre-FEED of a gas pipeline, in order to build a value chain for gas production.

The Russian oil giant has agreed to invest billions of dollars into oil projects in the area over the past two years, which have included securing control of the oil pipeline in the Kurdistan region. This pipeline provides access to the major route of transportation for the regions oil exports via Turkey.

The Kremlin controlled organisation are now by far the biggest investor in the Kurdistan region and have plans in place to increase their oil production in the area to 10,000 barrels per day by the end of 2018.

Source: Reuters

 

 

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