ISSN:2148-2489

OIL COMPANIES OPERATING IN THE NORTHERN IRAQ


Iraq, which is one of the richest oil reserves in the world, is at the top of world oil production and exports. During the US invasion of Iraq in 2003, some oil plants were damaged and there was a significant reduction in production capacity. In the post-2003 restructuring process, Iraq managed to attract a significant amount of foreign capital and was once again at the top of oil production. A constitutional Kurdish autonomous administration was established in northern Iraq after 2003. Initially, it is planned that all the oil resources of Iraq will be under the administration of Iraqi Administration (CIA) and 17% of all the country's oil revenues will be given to the Local Government of Northern Iraq (KRG). However, the Local Government of Northern Iraq held tenders for oil fields in the region and concluded numerous agreements with international oil companies, independent of the Central Iraqi Administration. While the issue of sharing the authority of oil fields between KRG and MIY continues to this day on this, each country and company is in the position of self-interest.


Keywords


Oil, Iraq, KRG, Turkey, OPEC

Author : Mehmet Bora SANYÜREK
Number of pages: 254-282
DOI: http://dx.doi.org/10.29228/ASOS.40048
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The Journal of Academic Social Sciences
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