Oil to flow from Iraqi Kurdistan( Norwegian energy company)

[maddezmom]

4/11/2006 The Time - By Carl Mortished
Despite the security risks and political instability, a Norwegian energy company is set to start drilling

PLANS by a Norwegian energy company to produce oil in Iraqi Kurdistan early next year have raised questions over who controls Iraq’s vast petroleum resources.

DNO, an independent company based in Oslo, said that a well drilled near Zakho in the Kurdish-controlled northern region of Iraq had shown the presence of oil. Further well tests are planned, which, if successful, could lead to the first barrels produced by a foreign oil operator in Iraq.

The Norwegian firm signed a deal in June 2004 with the Kurdistan regional government, a production-sharing agreement covering an area 250 miles north of Baghdad close to the Turkish border.

Stepping briskly into a potential legal and political quagmire, the Norwegian firm’s gamble has, so far, come good and preliminary studies of the results from drilling the Tawke, No 1 well showed five reservoir levels of oil.

more;http://www.kurdmedia.com/news.asp?id=11969