2013/01/25

Turkey eyes role in Iraq’s oil and gas shares

Source : Vesti Kavkaza

Turkey should secure a place for itself in both the northern and southern oil and gas fields of Iraq since its energy future is inextricably linked with its southern neighbor, despite frequent recent friction, sector representatives have said, Hurriyet Daily News reports.

“If there is energy somewhere, then it has to flow somewhere else. You can’t escape that fate,” said Mehmet Öğütçü, the head of Global Resources Corporation, implying that fuel drilled in Iraq would be transported outside the country regardless of political or economic obstacles.

Speakers at yesterday’s “Natural Gas as the Game Changer” roundtable meeting organized by the Marmara Group Foundation predicted that Iraq would have a significant place in the natural gas bus sector in the coming years.

“Iraq will be producing around 19 billion cubic meters of natural gas by 2035, which means it will become the fifth or sixth biggest producer in the world,” said Tahir Uysal, a partner at Silso Oil.