Since the ratification of the Iraqi Constitution in 2005, the Kurdish Region of Iraq (KRI) has been developing as a federal entity of Iraq, following in many ways a different path from the rest of the country.
This is attracting the interest of governments and high-profile companies such as ExxonMobil, Chevron and Total, as well as pioneers such as Genel Energy, a Turkish-British joint venture, or the UAE-based Dana Gas which had been lured by the prospect of vast untapped resources and cheap production costs.
Other companies such as Britain’s BG, Norway’s Statoil and the US’ ConocoPhillips are thought to be actively looking.
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