HEADLINES:

Rosneft signs deal to build natural gas pipeline in Kurdistan Region

(File)
2018-05-25

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SULAIMANI – Russian state oil major Rosneft signed a deal to help Kurdistan develop its gas reserves and build a gas pipeline, expanding the company’s dominance in the energy sector of Iraq’s semi-autonomous region.

Rosneft said on Friday (May 25) it would conduct a pre-FEED (front engineering and design) of a gas pipeline in Kurdistan as part of its plan to build an integrated gas business value chain in the region according to Reuters.

Last fall, Rosneft took over ownership of the Kurdistan Region’s crude oil export pipelines to Turkey from the KRG in return for $1.8 billion.

The aim of the deal for Rosneft was not only commercial, but to cement Russia’s political influence in Iraq and the Middle East, according to the Rosneft, oil industry, Kurdish, and Iraqi government sources.

On Wednesday (May 23), confirmed the opening of the new Salman oil field in southern Iraq, based on the results of the drilling of a first exploratory well in Block 12.

(NRT)