Kurdistan Region produced 14mn barrels of oil since start of July

ERBIL, Kurdistan Region—The Kurdistan Region is producing some 451,000 oil barrels per day, a Kurdish official announced at Erbil’s second economic and trade conference, Business Panel 2016, on Wednesday.

 

“We have produced more than 451,000 barrels per day, since the beginning of July, which would be some 14 million barrels,” said Taha Zangana, Deputy Minister of the Kurdistan Regional Government’s (KRG) Oil and Natural Resources Ministry.

 

The deputy minister also said that there are 22 active oil companies working in the Kurdistan Region. 

 

“Three refineries are authorized and more than 1,700 other companies are working as service companies,” he said.

 

“As the Ministry of Natural Resources, we are still working according 2007 oil laws which allows the KRG to look for oil and gas inside the Kurdistan Region,” Zangana stated.

 

The panel was opened in the Kurdistan Region’s capital city of Erbil on Wednesday.

 

Samir Nzari, organizer of the panel, told Rudaw that the aim of the conference is to bring companies and officials together to discuss the financial crisis that the Region is facing.