Statoil is making a shift in interest from southern Iraq to Kurdistan

An Iraqi Oil Ministry source says Statoil of Norway is making a shift in its interest from southern Iraq to northern Iraq.

The source adds Statoil is now seeking an investment project in Kurdistan in northern Iraq as the Norwegian government is advising to avoid investment projects in southern Iraq for security reasons.

Statoil maintains good relations with the Iraqi Oil Ministry and South Oil Company (SOC) and has already showed interest in an investment project in southern Iraq.

According to this source, SOC officials are confident that Statoil will not break Iraqi rules in its talks with the Kurdistan Regional Government on oil concessions in northern Iraq.

Iraq Information Report