Thursday, March 08, 2007
Turkish company expresses interest in oil prospecting in Kurdistan
Oil
(Iraq Daily Business Updates) Turkey said on Thursday that foreign companies expressed an interest in working with the Turkish company T.B.A.O for oil prospecting, which is owned by the State, in the search for crude oil and natural gas in northern Iraq. Earlier this week the Turkish Energy Minister, Hilmi Juler, said that his country would begin talks this month with the American and Iraqi governments about the possibility of starting the exploration in northern Iraq.
Juler said: "There are foreign companies in Iraq who want to work with us and have submitted bids directly to the T.B.A.O Company. We will evaluate those proposals and we will soon make an announcement in this regard". He added that it is natural for Turkey, which imports most of its energy, to participate in oil exploration in Iraq; however, he did not give any details of the companies or regions that T.B.A.O wishes to prospect for oil in. Despite the political tensions between Ankara and the Iraqi Kurds, more than 600 Turkish companies are operating in northern Iraq. Analysts say that Turkish exports to the Kurdish government, including fuel, amounted to about five billion dollars in 2006 alone.
Labels: Kurdistan, oil, T.B.A.O., Turkey
