KRG reaches landmark deal with DNO and Genel

25 Aug 2017   Iraq

Iraq’s autonomous Kurdistan Regional Government (KRG) on Thursday gave extra project equity and profit payments to two of its earliest international oil investors to absolve outstanding debts – a deal that could seriously reduce financial risk and pave the way for quicker growth in the industry. Neither Norway’s DNO, Anglo-Turkish Genel Energy or the KRG’s Ministry of Natural Resources (MNR) have made public the overall amount of unpaid exports and other receivables – estimated by Iraq Oil Report at more than $1 billion – that will be waived in the […]

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