Kurdistan lines up production deals

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Jonathan Davis

 22 March 2007 19:29 GMT

Iraq's Kurdish regional government expects to sign deals with at least 10 foreign oil companies by the end of the year, it said today, as it strives to increase output by 1 million barrels per day over five years.

Ashti Hawrami, Minister of Natural Resources in the semi-autonomous Kurdistan Regional Government, said five production-sharing agreements have already been signed with the details to be released in the next few weeks.

The companies involved include Norway's DNO, Turkey's Genel Enerji together with Addax Petroleum and Canada's Heritage Oil and Western Oil Sands.

"We are in discussions with a number of other companies and they are ready to come in," Hawrami told a briefing for potential investors in London, Reuters reported. "We are holding things back, not them."

Production under the existing five contracts was…

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