S. Korean company says will continue oil exploration in Kurdistan

BAGHDAD / IraqiNews.com: A worldwide South Korean oil and gas exploration and production company on Saturday said that it will continue drilling for oil in Iraq’s Kurdistan region despite of a central government decision to ban it from taking part in bids. “Baghdad’s decision will not affect oil exploration in autonomous Kurdistan,” a spokesperson for the Korean National Oil Corp (KNOC) told Agence France Presse (AFP). Led by KNOC, a group of oil companies signed oil contracts with the regional government last year, despite a strong opposition from the central government, which described the contracts as “illegal.” On Thursday (April 2), Iraqi Minister of Oil Hussein al-Shahrestani said that the termination of oil contracts with the Kurdistan Regional Government Kurdistan RegionG) will enable companies to bid for future contracts in Iraq. SS (P) 1