Iraq & Kurdistan | A tale of two halves: Federal Iraq’s pursuit of stability amidst Kurdistan’s export dilemma
May 22, 2024
Following years of political turbulence and economically unattractive fiscal terms, Iraq has experienced a resurgence of interest in recent years. Thanks to revamped terms under its new Exploration, Development and Production Contract (EDPC), there has been a flurry of activity in recent bid rounds, with numerous awards for both discovered resource opportunities and gas exploration acreage.
Meanwhile, the headlines from the Kurdistan Region of Iraq (KRI) are dominated by a starkly different topic – the closure of the pipeline from Iraq to Turkey in March 2023 has wreaked havoc on production in the Kurdistan region, depriving it of its critical export route.