Personal Liberty Digest™ will be upgraded this weekend to reflect a dynamic new look and mobile-friendly viewing to enhance your experience! Plus, we'll be providing even more of the compelling content you've come to expect, delivered in a whole new way!

  Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty

Oil risks, rewards in Iraq’s Kurdish north

February 22, 2012 by  

NORWALK, Conn., Feb. 22 (UPI) — It remains to be seen whether investors will have the patience to reap rewards from oil developments in the Kurdish north of Iraq, analysis finds.

In May, Iraq is expected to put around a dozen oil and natural gas blocks up for auction in its fourth licensing round. International companies have deals with the Kurdish government but the central government questions the validity of the contracts.

Robert Gillon, director of energy company research at IHS Global Insight, said some blocks from oil fields in the Kurdish north contain hundreds of millions of barrels of oil.

“The potential is immense but the risks are quite pronounced,” he said in a statement.

IHS blamed geopolitical and “several technical” risks to energy companies working in the semiautonomous Kurdish region. Reserve estimates vary widely because few appraisal wells were drilled while export pipeline capacity is short of what’s needed in the region.

Gillon said energy companies in the region need to have a “very high tolerance for risk” to have success.

“The value in the play is there, that is clear,” he said. “What is not clear is whether that value will be realized in a timeframe that is acceptable to investors.”

Spencer Cameron

Facebook Conversations

Join the Discussion:
View Comments to “Oil risks, rewards in Iraq’s Kurdish north”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at


Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.