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WesternZagros Resources becomes the seventh International Oil Company to join the Association of the Petroleum Industry of Kurdistan.
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WesternZagros joins fellow American APIKUR members, Hunt Oil and HKN Energy, which together represent over $5 billion of American investment by these companies in the Kurdistan Region of Iraq (KRI).
WesternZagros is a privately held American owned company with offices in Calgary, Canada, and in Erbil and Sulaymaniyah in the Kurdistan Region of Iraq. It has invested over $1 billion in oil and gas exploration and production in Iraq’s Kurdistan Region since 2005, achieving significant oil and gas discoveries.
Collectively, APIKUR members produce more than 50 percent of all oil in Iraq’s Kurdistan Region.
WesternZagros holds two Production Sharing Contracts in the Kurdistan Region of Iraq, outlining the framework for the exploration and production of both crude oil and natural gas. These agreements establish the fiscal parameters governing the development of oil and natural gas fields within the Kurdamir and Garmian Blocks, with separate contracts dedicated to each specific block.
'APIKUR’s voice is stronger with the addition of WesternZagros' said Myles B. Caggins III, APIKUR spokesman. 'All APIKUR member companies share the same goal of resuming full oil production and exports for the benefit of stakeholders, employees, and the economy of Iraq.'
APIKUR members encourage all parties to reach a commercial resolution that preserves their contractual rights and enhances the future investment climate of Iraq and the Kurdistan Region.
About APIKUR:
APIKUR’s objective and purpose is to promote the KRI as an attractive destination for international oil and gas companies, service providers and investors. In addition, APIKUR aims to advocate for and represent the common interests of its members, function as a joint and effective voice towards all relevant stakeholders whether in the KRI, or elsewhere, and provide a forum for its members to share appropriate public industry information and best practices.
Source: AKIPUR
