Seeking financial rescue, KRG offered Turkey major oil assets

23 Dec 2016   Iraq, Turkey

Emails published by Wikileaks reveal a proposal for Turkey to take equity stakes in Kurdistan’s biggest oil fields, in exchange for nearly $5 billion of immediate financial assistance. Turkey’s then-Prime Minister Tayyip Erdogan (R) and President of Iraqi Kurdistan Massoud Barzani in Diyarbakir on Nov. 16, 2013. (Reuters) With his government drowning in debt, Kurdistan’s oil minister earlier this year laid out a bold offer to his counterpart in Turkey: take substantial stakes in the region’s main oil and gas fields in exchange for nearly $5 billion in debt forgiveness and cash.In a March 19, 2016 memo, Kurdistan Regional Government (KRG) Minister of Natural Resources Ashti Hawrami acknowledges over a billion dollars that Turkey has already sunk into Kurdistan and its energy sector. Then, he effectively asks T… This content is for registered users. Please login to continue. If you are not a registered user, you may purchase a […]

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