Seizure Of Oilfields Fuels Kurd Dreams Of Statehood
By Voice of America |Henry Ridgwell | 15 Jul 2014
Last week's seizure of two large oil fields in Kirkuk by Kurdish fighters from northern Iraq will help their largely autonomous region achieve energy self-sufficiency, and is being viewed as another step by Kurdistan's regional government toward independence. The oil facilities had been abandoned by Iraqi forces, who retreated under an advance by militants of the Islamic State. Henry Ridgwell reports for VOA from London.
To have a better idea about the oil production of Iraq, I added this article from http://www.energy-pedia.com/ :
Iraq: Vast Exploration closes $10 million private placement financing to fund Kurdistan exploration
07 Jun 2009
Vast Exploration Inc has announced that it has closed its previously announced equity financing, including the exercise of the option. Pursuant to the financing, the Company has issued and sold 25,000,000 units of the Company at a price of $0.40 per unit for total gross proceeds of $10,000,000.
Each unit was comprised of one common share and one-half of one share purchase warrant, with each whole share purchase warrant entitling the holder thereof to acquire one Vast common share at a price of $0.50 at any time prior to June 5, 2011.
The Company intends to use the net proceeds from the financing to fund its commitments under a Production Sharing Contract (PSC) that it has entered into with the Kurdistan Regional Government – Iraq for the exploration, development and production of petroleum resources in the 846 sq km Qara Dagh Block in the Sulaymaniya Governorate of the Federal Region of Kurdistan – Iraq and for working capital.
The Qara Dagh Block lies on trend with existing discoveries and is located in the prolific Zagros Fold Belt of Northern Iraq, which contains several large fields including the super-giant Kirkuk field.