Kurdistan: The World Capital of Oil Exploration

PRLog (Press Release) - Dec. 13, 2012 - Dr Alirio Parra, Venezuela’s Former Energy Minister & CWC Group Board Member, officially opened the Kurdistan-Iraq Oil & Gas 2012 Conference, which was held at the Saad Palace Convention Centre, Erbil, Kurdistan, 3-5 December 2012. In his opening keynote address, Dr Parra remarked “Kurdistan is the exploration capital of the world at a time of exceptional growth”, a statement industry experts acknowledge and therefore recognise Kurdistan-Iraq Oil & Gas as a key annual event in the oil and gas sector, for providing a unique platform for international investors to discover lucrative opportunities in Kurdistan-Iraq.

“Three of the five largest oil companies in the world are here with us. It is unprecedented to have such a high number of large companies in an area that is for exploration and investment.”
Dr Alirio Parra, Venezuela’s Former Energy Minister & CWC Group Board Member

The Conference focused on Kurdistan-Iraq’s position as a key player in global energy security through programme sessions centred on attracting investment from across the oil and gas value chain and the role of international companies on the road to reaching 1MBD target in oil production. Recent discoveries made in oil exploration and technological advances were key discussions that took place to determine Kurdistan-Iraq’s position on the world energy map.

Prime Minister, H.E. Nechirvan Barzani promoted the Kurdistan Region as an important part of the world’s oil and gas industry in his ministerial keynote session and he further announced his plans to develop export routes for oil produced in the near future and the investment this requires. Barzani further stated “the Kurdistan Regional Government (KRG) is working to identify bottlenecks in the export infrastructure, to create the right investment scenario and to get more oil to the market. This means building additional feeder and export pipelines for Iraq and that is what we are doing, in line with the authority that the Iraqi constitution has given the provinces of the Kurdistan Region.”

Dr Ashti Hawrami, the KRG Minister for Natural Resources, contributed to the discussion by focusing on the oil exploration; utilisation of gas; power; and downstream achievements made by the Region in recent years. Commenting on the KRG’s initiative on oil exports, he stated “the KRG are committed to achieving an average of 200,000 barrels per day of exports by the end of this year, and an average of 250,000 barrels per day in 2013.”

Turkey’s Deputy Energy Minister, Dr Selahattin Cimen, discussed Turkey’s role as an energy transmission hub and its role in developing Kurdistan’s oil and gas. Dr Cimen remarked, “the trade sector is an important part of our relations, and collaboration between the KRG and Turkey to transfer oil and gas to the world markets will strengthen our ties. What energy markets need most is a free market, transparency and secure supply. In this context, the KRG reaching out to supply the world will be a breath of fresh air for world markets.”

H.E. Emad Ahmed, Deputy Prime Minister of Kurdistan Region of Iraq, H.E. Falah Mustafa Bakir, Head of the Department of Foreign Relations and H.E. Dr Ashti Hawrami, Minister of Natural Resources, concluded the Conference by reflecting a positive message to international investors and reinforced the KRG’s commitment to the contracts they have made with foreign investors.

Distinguished speakers also included; Qubad Talabani , Head of the Department for Coordination & Follow-Up, Council of Ministers, Kurdistan Regional Government, Iraq; Mehmet Sepil, President, Genel Energy Plc; Bijan Mossavar-Rahmani, Executive Chairman, DNO International ASA; Ian Macdonald, Vice President, Chevron; Majid H Jafar, CEO & Board Member, Crescent Petroleum & Dana Gas; John Gerstenlauer, COO, Gulf Keystone Petroleum Ltd; David D Kennedy, Regional Managing Director, Afren Africa Middle East North Africa, Ltd; Baz Karim, President, KAR Group; Saad Sadollah, Commercial & Business Development Advisor, Ministry of Natural Resources, Kurdistan Regional Government; Hama Amin Hawrami, Advisor to the Minister, Ministry of Electricity, Kurdistan Regional Government, Iraq; Tony Hayward, CEO, Genel Energy Plc; and Dr Jennifer Coolidge, Founder & Executive Director, CMX Caspian & Gulf Consultants Ltd.

Conference sponsors included; ExxonMobil, Oil & Gas Management Services Group, UB Holding, Gulf Keystone Petroleum, Chevron, Genel Energy, Marathon Oil, Dana Gas, Repsol, OMV, DNO, Hess, Oryx Petroleum, Gazprom, MolGroup, Hunt Oil, Oil Search (Iraq)Limited, KAR Group, Tenaris, Talisman Energy, Viking International, Afren, HKN Energy, RPS Energy, WesternZagros, GardaWorld, Qaiwan Group and Technology Partners.  

Kurdistan- Iraq Oil & Gas is renowned in providing a unique platform to discuss the strategies that drive investment into the country through its oil and gas industry. As the only annual event of its kind, the Conference brought together over 800 leaders from the major operators, private sector, the Kurdistan Regional Government, the Iraqi Government and the Iraqi Federal Parliament. It is established as providing a gateway to oil and gas business in Iraq and the Kurdistan Region, through discussions on partnerships, tenders, upstream policies and updates on latest industry developments.