Kurdistan granted Atrush oil field to UAE Company

“It is expected for the field run by (TAQA) to produce about 30 thousand barrels of oil per day at the start of production, expressing the expectation to begin pumping the first quantities by early 2015,” The Company said in a press statement stated for “Shafaq News”.

The UAE Company had announced earlier this year that it had bought a 53.2 % stake in the permit of Atrush oil in Kurdistan Region compared to $ 600 million from General Exploration Partners (G. E. P).

Buying this share is considered the first time to take place by (TAQA) to run a project for oil and gas in the Middle East, based in Abu Dhabi.