BIG WAVE
05-12-2006, 09:15 PM
LONDON, May 12, 2006 (RFE/RL) -- Oil-prospecting activities in Kurdish-administered northern Iraq are gathering pace following a Norwegian company's discovery of new oil reserves there, while other small international oil firms from Canada and Britain have also become involved.
Possibly New Oil Fields
Helge Eide, managing director of DNO of Oslo, Norway, says the company has been active in the Kurdish-administered region for some time and already has found new oil reserves. He said the company's first well, Tawke No 1, is now getting ready to start test-producing oil.
"We are progressing with our early test-production plan with the objective to start test production [in the] first quarter of next year," Eide said.
It is not yet clear whether the regional licenses would also be recognized by the central government in Baghdad, because the new Iraqi Constitution appears to many observers to give some licensing rights to both governments.
Legal Gray Area
Experts agree that the prospects for new oil finds seem good. But some are worried about the legal framework and validity of the granted licenses. Catherine Hunter, a senior analyst with Global Insight in London, said it is not yet clear whether the regional licenses would also be recognized by the central government in Baghdad. This is because the new Iraqi Constitution appears to many observers to give some licensing rights to both governments.
http://www.rferl.org/featuresarticle/2006/5/D8BA01FD-1FFD-4E48-BDAB-938E7AF86CC7.html
Possibly New Oil Fields
Helge Eide, managing director of DNO of Oslo, Norway, says the company has been active in the Kurdish-administered region for some time and already has found new oil reserves. He said the company's first well, Tawke No 1, is now getting ready to start test-producing oil.
"We are progressing with our early test-production plan with the objective to start test production [in the] first quarter of next year," Eide said.
It is not yet clear whether the regional licenses would also be recognized by the central government in Baghdad, because the new Iraqi Constitution appears to many observers to give some licensing rights to both governments.
Legal Gray Area
Experts agree that the prospects for new oil finds seem good. But some are worried about the legal framework and validity of the granted licenses. Catherine Hunter, a senior analyst with Global Insight in London, said it is not yet clear whether the regional licenses would also be recognized by the central government in Baghdad. This is because the new Iraqi Constitution appears to many observers to give some licensing rights to both governments.
http://www.rferl.org/featuresarticle/2006/5/D8BA01FD-1FFD-4E48-BDAB-938E7AF86CC7.html