Kurdistan Regional Government allows exploration firm to restart operations
The Kurdistan Regional Government (KRG) has allowed Norway’s DNO International to resume oil exports from the fields it is developing in northern Iraq following a dispute which crippled the oil company’s operations.
The oil exploration firm says it has resolved all its problems with the KRG and can restart operations in Kurdish-controlled Iraq.
The dispute occurred after the Oslo Stock Exchange announced on 22 September that a probe into the sale of shares from DNO to Turkey’s Genel Enerji showed that KRG Natural Resources Minister Ashti Hawrami acted as a middle man for the deal.
On 23 September, the KRG froze DNO’s operations in Iraq for six weeks, claiming that “misleading and incomplete publications” produced by the Oslo Stock Exchange had caused serious harm to its reputation.
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.