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Tuesday, 02 December, 2008, 03:50 GMT | more >>

Hunt enters into Kurdistan deal



By Upstream staff 

Dallas-based independent Hunt Oil has signed a production sharing agreement with the Kurdistan Regional Government (KRG) covering exploration activities in the Dihok area of the Kurdistan Region.

The PSC is the first to be signed by the KRG since the Oil and Gas Law of the Kurdistan Region was issued by the Kurdistan Parliament in early August.

Hunt will act as operator of the PSC and is expected to begin geological survey and seismic work by the end of the year, with plans to be in a position to drill an exploration well in 2008.

“Revenues from this Kurdistan petroleum development will be shared by the KRG throughout Iraq consistent with the Iraq constitution and the new Oil and Gas Law of the Kurdistan Region," KRG Minister of Natural Resources Ashti Hawrami said.

Hunt will be partnered at the PSC by US investment company Impulse Energy.


Monday, 10 September, 2007, 01:41 GMT  | last updated: Monday, 10 September, 2007, 02:09 GMT

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