TV: Islamic State re-enters ancient city of PalmyraWorld December 10, 21:20
Saudi minister says Russia led consultations process with OPECBusiness & Economy December 10, 20:41
UK foreign secretary says protection of civilians should be 'top priority' in SyriaWorld December 10, 20:31
Non-OPEC states join historic oil cut dealBusiness & Economy December 10, 20:23
Russian diplomat urges Western reporters to be unbiased in war news coverageRussian Politics & Diplomacy December 10, 20:08
Russia, Oman enter committee for control over oil production — Iraqi oil ministerBusiness & Economy December 10, 20:07
Iran's oil minister says non-OPEC countries agree to cut oil production by 600,000 barrelsBusiness & Economy December 10, 19:42
Russia, Oman enter committee on controlling oil production created by OPEC - BloombergBusiness & Economy December 10, 17:40
Source claims OPEC and non-OPEC states finalizing results of meeting, agreement 'close'Business & Economy December 10, 17:07
MOSCOW, June 7 (Itar-Tass) - Russia’s oil producer Gazprom Neft plans to invest around $1 billion into the Garmian and Shakal blocks located in the south of Iraqi Kurdistan in 2013-2015, the company’s first deputy CEO, Vadim Yakovlev, told reporters on Friday.
Geological surveys and drilling works at these blocks will last for two years.
“As concerns the Halabja project that we joined this year, investments will reach $162 million until 2017,” he said.
According to earlier reports, in 2012 Gazprom Neft signed two production-sharing agreements with the Kurdistan Regional Government on the Garmian and Shakal blocks. At present, the company conducts geological evaluations at these blocks. The two blocks’ oil reserves are estimated at 1.5 billion tonnes.
In early 2013 Gazprom Neft received an 80 percent stake in the Halabja block in Kurdistan under the production-sharing agreement. Other shares belong to the Kurdistan Government. The oil reserves at the block located 30 kilometers of Garmian are estimated at 90 million tonnes.