Iraq to Sign Akkas Deal, Review Kurdish Oil Contracts
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Iraq, seeking to rebuild its energy industry after years of conflict and scarce investment, will soon sign a delayed deal for the Akkas natural-gas field and review production-sharing contracts signed separately by the semi-autonomous Kurdish region, the country’s oil minister said.
Iraq originally planned to sign the Akkas agreement on Nov. 14 with Korea Gas Corp., known as Kogas, and KazMunaiGaz National Co., Kazakhstan’s state fuel producer. The deal stalled on concerns by local authorities, who feared the gas from Akkas would be exported without benefitting nearby communities.