Azerbaijan, Baku, April 24 / Trend A.Badalova /
Since the beginning of 2013 Iraqi Kurdish autonomy has doubled its oil exports to the world markets, Reuters reported with the refrence to the industry sources.
According to the sources, oil and condensate flows which are being trucked over Iraq's northern border with Turkey, bypassing Iraq's federal pipeline system, increased to nearly 60,000 barrels per day (bpd), and are expected to grow to 70,000 bpd in May. This will require loading about 350 tanker trucks every day.
Iraqi Kurdish autonomy's exports are considered illegal by Baghdad. Relations between the Kurdish administration in northern Iraq and Baghdad deteriorated in October 2011 after US-based Exxon Mobil received permission from the Kurdish authorities on the exploration and production of oil in this Iraqi region. Baghdad considered the deal illegal and warned the company that if it did not abandon the agreement with the Kurds, its deals with the central Iraqi government may be revised.
Reuters reported with the reference to the market sources that a second parcel from Taq Taq field in Iraqi Kurdish autonomy was bought by Germany's Select Energy and is expected to be sold throughTurkey next week, the market sources reported. A third parcel from Taq Taq is being offered for the second week of May.
According to BP, oil reserves in the Kurdish administration of northern Iraq are estimated at 45 billion barrels.
Earlier Anglo-Turkish Genel Energy, which is engaged in exploring and developing hydrocarbon fields in the Iraqi Kurdish autonomy, stated that it plans to import 4 billion cubic meters of gas from the Kurdish autonomy by 2016.
In early April Genel Energy and Petoil companies announced about discovering a new rich oil and gas deposit in the Kurdish autonomy. Oil and gas reserves have been found on 'Chia Surkh' block of the Iraqi Kurdish autonomy in which the companies conduct exploration at five wells. Reportedly, up to 12,000 barrels of oil per day may be extracted at the first well on the "Chia Surkh" block. According to the companies' estimates, the oil production on the block will begin in mid 2014.