The Website of the presidency of Kurdistan Regional Government , briefed by “Shafaq News " , quoted Dallas News that the director and the company's founder , Rose Berut said that they have made an oil discovery commercially in Kurdistan region, noting that the region continuously detects " huge and promising " expectations in energy field.

Berut said that it is likely for the region to be within that last" largest " global oil depots .

The newspaper reported that HKN company is a subsidiary of Hilllwood global energy , and one of the drilling companies for oil in Kurdistan region since 2003 , adding that the company plans to start production from two wells that have drilled them at the end of May , at rates up to 25 thousand barrels daily .

According to press reports , the HKN Energy company began operations in the region since 2006 and drilling in Sarsank area oil in Sarsank district in Dohuk province in conjunction with Marathon Oil and Maersk Oil companies, indicating that Kurdistan Regional Government owns 25 per cent of the shares so the oil field .

The national Korean KNOC oil company has announced on 20th of March 2014, the discovery of large reserves of light crude oil in Bannan well inside Hawler field ( Erbil ), the capital of Kurdistan Region , indicating that the initial rate production of the well has reached more than four thousand barrels per day , and they also succeeded in exploring other three oil wells in the field in the past year.