Taqa has been given the go-ahead for the first $300million development of Kurdistan’s Atrush oil project
The first phase of the field is expected to start producing around 30,000 barrels per day from 2015, with a second phase expected to double that amount.
Taqa holds a 39.9% stake in the operating company for the field alongside ShaMaran, Marathon Oil and Kurdistan’s Regional Government.
Development of the field, 85km northwest of Erbil, will start with three production wells and a processing facility.
“The Kurdistan region of Iraq is an exciting exploration frontier and has tremendous potential,” said Taqa oil and gas head David Cook.
“It is our ambition to build an integrated business in the Kurdistan Region of Iraq including potential power and water projects in addition to oil and gas infrastructure developments.”