Gazprom “Not Reducing Investment” in Iraqi Kurdistan
Russia’s Gazprom Neft has reportedly said it will not reduce investment in its projects in Iraqi Kurdistan, despite a request from the Kurdistan Regional Government (KRG) to do so.
Reuters reports that following a slump in oil prices, oil producers have been asked to reduce their investments, which governments often have to partially reimburse as part of their contractual arrangements.
Gazprom Neft holds a participating interest of 40 percent in the Garmian block and 80 percent in the Halabja and Shakal blocks. The Sarqala field is located within the Garmian block.