Helge Eide, DNO’s chief executive, said: “We are ready to pump. We never thought that we would be in a position to start producing oil from Kurdistan only two years after we commenced exploration.”
An example of foreign investment will do for Iraq — the first exploration and production-sharing contract was done in Kurdistan.
The first crude oil pumped by a foreign company in Iraq in decades will flow into the global market next month.
DNO, a Norwegian oil company, will announce on Wednesday that it will begin producing a small amount of oil from the northern Iraqi region of Kurdistan, marking a symbolic return of foreign companies to Iraq after 35 years of state control.
…DNO, which is quoted on the Oslo stock exchange, discovered the Tawke oil field in late 2005, after signing a production sharing agreement in June 2004 with the Kurdish regional government, a semi-autonomous area of northern Iraq.
Ashti Hawrani, the Kurdish oil minister, said Kurdistan’s regional government would share revenue with the rest of the country.
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