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Turkey intends to cooperate with Chevron in energy projects in Northern Iraq

Wednesday, May 22, 2013 - 19:15

Turkey is negotiating the terms of cooperation with the U.S. company Chevron for joint activity in the field of energy in the Iraqi Kurdish autonomy, Hurriyet newspaper said on Tuesday.

According to the newspaper, in particular, this partnership with Chevron may involve the construction of oil and gas pipelines from Iraqi Kurdistan to Turkey.

Earlier, Turkey signed an agreement with the U.S. company Exxon Mobil on oil exploration in Iraqi Kurdistan.

Exxon Mobil and Turkish oil and gas company TPIC (TPAO's subsidiary) intend to establish a joint venture in Iraqi Kurdistan.

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.

Baghdad stated that it will apply sanctions against American companies and deprive them of the right to participate in energy projects in Iraq.

According to BP, the Iraqi Kurdistan in northern Iraq has oil reserves of 45 billion barrels.



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