The French oil company total investment potential in studying Kurdistan

2012-02-11 14:14:04

Baghdad (IBA)... The French oil company total s.a. announced that it was studying a possible investment in Kurdistan, becoming the latest major oil company in Iraq turned its focus to the Kurdistan region.

The Chief Executive said yesterday he was considering ltotal investment potential in Kurdistan, adding that the company has no intention of competing for contracts in the next round of licences for oil and gas by Baghdad.

Christophe de margeri said at a press conference at the hearing does not appear to be the fourth round of licensing conditions in Iraq very attractive ... Interest in Iraqi Kurdistan due to the abundant oil and gas reserves there and better contractual terms.

Total confirmed its interest in Kurdistan with announcing record profits growth in 2011 thanks to high oil and gas prices. The company announced plans to strengthen investment budget.

And Paris-based TotalFinaElf said it will raise its capital expenditure to $24 billion in 2012 from $20.6 billion in 2011.

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