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An economist explains the reasons for the withdrawal of the largest oil company in the world from Kurdistan
Sunday, May 1, 2022 9:20 PM
National News Center/ Baghdad
Among the economic expert, Nabil Al-Marsoumi, on Sunday, the reasons for Exxon Mobil's withdrawal from Kurdistan.
Al-Marsoumi said, in a Facebook post, followed by the National News Center, that “the American company, Exxon Mobil, which is the largest oil company in the world, which Masoud Barzani described as equal in importance to ten military teams, decided to withdraw from Kurdistan for reasons related to the lack of profits and the weak economic feasibility of investment. in the oil fields of Kurdistan.
He added, "The company is still in the exploration stage and has not reached production, and to try to seize more feasible investment opportunities, knowing that the American company is seeking to exit West Qurna/1 field and sell its share for the same reasons."
He pointed out that "ExxonMobil has invested in six exploration blocks in Kurdistan since 2011,
but in 2016 it withdrew from three oil exploration blocks in the region, which are (Beitwata, Arabat and Qara Hanjir) within the borders of Sulaymaniyah Governorate, while ExxonMobil recently decided to abandon the fields.
The other three (Shicrack, Bashiqa, and Alqosh) are located in two of the fields in which they are being explored, and part of a third field is beyond the Green Line and within the disputed areas between the center and the region.
An economist explains the reasons for the withdrawal of the largest oil company in the world from Kurdistan
Sunday, May 1, 2022 9:20 PM
National News Center/ Baghdad
Among the economic expert, Nabil Al-Marsoumi, on Sunday, the reasons for Exxon Mobil's withdrawal from Kurdistan.
Al-Marsoumi said, in a Facebook post, followed by the National News Center, that “the American company, Exxon Mobil, which is the largest oil company in the world, which Masoud Barzani described as equal in importance to ten military teams, decided to withdraw from Kurdistan for reasons related to the lack of profits and the weak economic feasibility of investment. in the oil fields of Kurdistan.
He added, "The company is still in the exploration stage and has not reached production, and to try to seize more feasible investment opportunities, knowing that the American company is seeking to exit West Qurna/1 field and sell its share for the same reasons."
He pointed out that "ExxonMobil has invested in six exploration blocks in Kurdistan since 2011,
but in 2016 it withdrew from three oil exploration blocks in the region, which are (Beitwata, Arabat and Qara Hanjir) within the borders of Sulaymaniyah Governorate, while ExxonMobil recently decided to abandon the fields.
The other three (Shicrack, Bashiqa, and Alqosh) are located in two of the fields in which they are being explored, and part of a third field is beyond the Green Line and within the disputed areas between the center and the region.
