These production figures look eminently realistic, as the five fields are already estimated to hold up to 9 billion barrels of oil reserves, although these are very conservative estimates, a senior source who works closely with Iraq’s Oil Ministry exclusively told OilPrice.com last year. “There’s at least another eleven or twelve billion barrels across the near surrounding area, and possibly much more,” he underlined. As with TPAO, BP’s efforts will not just be on oil development but also on capturing the g ...

In this latest case, Erbil said just over a week ago that its total constitutional entitlement between 2023 and 2025 amounted to IQD58.3 trillion (USD44.4 billion), while actual receipts did not exceed IQD24.3 trillion. This represents just 41% of the KRI’s financial rights and about 3.9% of the FGI’s total federal budget. Erbil also says that although the Federal Government allocated IQD165 trillion for investment spending nationwide, the Kurdistan Region received no funding for investment projects, result ...