popular articles

Two $110bn energy deals signed between Kurdistan and US-based companies

Kurdistan signs oil and gas development agreements with HKN Energy and Western Zagros worth $110bn over the projects’ lifespan.

Please share:

The Kurdistan Regional Government (KRG) has signed two major energy agreements with US companies for the development of resources in the autonomous northern region of Iraq. These contracts were formalised in Washington in the presence of Kurdish Prime Minister Masrour Barzani, with their combined value estimated at $110bn over the lifetime of the projects.

Two distinct projects with strategic scope

The first agreement was concluded with HKN Energy Ltd, a Texas-based company, for the development of the Miran block, a petroleum zone located in the Kurdistan Region. The project represents an estimated $40bn investment over its lifecycle. The second deal was signed with Western Zagros, a subsidiary of Houston-based investment firm Crest Energy International. This contract targets the development of the Topkhana-Kurdamir gas field, valued at $70bn.

These projects come amid strengthening economic ties between the Kurdish autonomous region and the United States, and form part of a series of recent energy engagements between the two partners. Both fields covered by the agreements are located in areas with high hydrocarbon potential.

Extension of a growing energy partnership

The previous month, GE Verona, a subsidiary of the US conglomerate General Electric, signed a $100mn agreement with Taurus Energy to upgrade the Bazyan power plant, which has a capacity of 1,250 MW. The facility supplies electricity to more than 1.5 million households in Iraq, according to data released at the time.

The rapid succession of these agreements highlights the strategic interest of American operators in Kurdistan’s energy resources. In return, the Kurdish regional government is relying on such partnerships to attract private capital and enhance its energy security.

Cooperation focused on resource development

Prime Minister Masrour Barzani welcomed the signing of the contracts as an economic lever for his region, describing the relationship with the United States as “mutually beneficial.” However, no specific timeline was disclosed regarding the commencement of operations or project phases.

These energy agreements cover both oil and gas development and may help reposition Kurdistan on the regional map of hydrocarbon exporters. The involvement of Texas-based firms also points to the continued interest of US investors in high-potential energy zones despite prevailing geopolitical risks.

Register free of charge for uninterrupted access.

Publicite

Recently published in

US energy companies reduced the number of active rigs for the fifth consecutive week, reaching their lowest level since November 2021, according to data published by Baker Hughes.
The 102 MW wind project in Québec secures structured loans from Canadian banks, marking a new stage for the joint venture between Innergex and the Mi'gmaq communities.
The 102 MW wind project in Québec secures structured loans from Canadian banks, marking a new stage for the joint venture between Innergex and the Mi'gmaq communities.
Sempra Infrastructure has received approval from U.S. authorities to export 13.5 Mtpa of liquefied natural gas to countries without free trade agreements, marking a key step in developing the Port Arthur LNG Phase 2 terminal.
Sempra Infrastructure has received approval from U.S. authorities to export 13.5 Mtpa of liquefied natural gas to countries without free trade agreements, marking a key step in developing the Port Arthur LNG Phase 2 terminal.
Canadian company enCore Energy has received regulatory approval to extend its radioactive materials licence to the Upper Spring Creek project, initiating the construction of new ISR facilities near its Rosita site.
Canadian company enCore Energy has received regulatory approval to extend its radioactive materials licence to the Upper Spring Creek project, initiating the construction of new ISR facilities near its Rosita site.
EOG Resources finalises a $5.6bn acquisition of 675,000 net acres from Encino Acquisition Partners, consolidating its strategic position in the Utica formation and increasing its dividend by 5 %.
The US Department of Energy has cancelled 24 projects funded under the Biden administration, citing their lack of profitability and alignment with national energy priorities.
The US Department of Energy has cancelled 24 projects funded under the Biden administration, citing their lack of profitability and alignment with national energy priorities.
In the United States, the carbon black market faces unprecedented fluctuations in the first half of 2025, driven by declining industrial demand and persistent raw material volatility, casting doubts over the sector's future stability.
In the United States, the carbon black market faces unprecedented fluctuations in the first half of 2025, driven by declining industrial demand and persistent raw material volatility, casting doubts over the sector's future stability.
In May 2025, natural gas demand for electricity generation in the United States declined, influenced by cooler weather conditions and a significant increase in solar generation.
In May 2025, natural gas demand for electricity generation in the United States declined, influenced by cooler weather conditions and a significant increase in solar generation.
Waga Energy has commissioned a biomethane facility in British Columbia, in partnership with FortisBC and Capital Regional District, marking the first unit of its kind on Vancouver Island.
The Norwegian group has been named preferred bidder for a 492 MWh storage project under South Africa’s public BESIPPPP programme.
The Norwegian group has been named preferred bidder for a 492 MWh storage project under South Africa’s public BESIPPPP programme.
Aker Solutions will deliver the steel structure for an HVDC converter station for the offshore BalWin2 project developed by Amprion Offshore, under a contract valued at up to NOK2.5bn ($228mn).
Aker Solutions will deliver the steel structure for an HVDC converter station for the offshore BalWin2 project developed by Amprion Offshore, under a contract valued at up to NOK2.5bn ($228mn).
Syria has signed a $7bn agreement with a consortium of companies from Qatar, Turkey and the United States to rebuild its national power sector.
Syria has signed a $7bn agreement with a consortium of companies from Qatar, Turkey and the United States to rebuild its national power sector.
European and UK carbon markets paused this week as participants await clarity on future integration of both emissions trading systems.
The Swedish government will implement new disclosure rules for foreign vessels, specifically targeting tankers linked to Russia’s hard-to-trace oil fleet.
The Swedish government will implement new disclosure rules for foreign vessels, specifically targeting tankers linked to Russia’s hard-to-trace oil fleet.
The International Atomic Energy Agency revealed that Iran conducted undeclared nuclear activities at three sites, which could lead to a non-compliance resolution by mid-June.
The International Atomic Energy Agency revealed that Iran conducted undeclared nuclear activities at three sites, which could lead to a non-compliance resolution by mid-June.
Chinese supplier Arctech will equip a green hydrogen project in Duqm with 175 MWp of solar trackers, marking a milestone in the industrial energy development of Oman’s coastal region.
Chinese supplier Arctech will equip a green hydrogen project in Duqm with 175 MWp of solar trackers, marking a milestone in the industrial energy development of Oman’s coastal region.
With 80% of its projects still in early stages, Australia struggles to realise its hydrogen ambitions, according to Wood Mackenzie, which warns of lost competitiveness against Europe and the Middle East.
Singa Renewables receives Singaporean approval to import Indonesian solar electricity, marking a strategic step forward in a regional project led by TotalEnergies and RGE.
Singa Renewables receives Singaporean approval to import Indonesian solar electricity, marking a strategic step forward in a regional project led by TotalEnergies and RGE.
Indian manufacturer Waaree has signed a $176mn solar module supply agreement with a US-based independent power producer, marking a key step in its industrial presence in the United States.
Indian manufacturer Waaree has signed a $176mn solar module supply agreement with a US-based independent power producer, marking a key step in its industrial presence in the United States.
The agreement signed in Seoul between REPT BATTERO and Hyosung Heavy Industries provides for the supply of 2.5GWh of energy storage systems aimed at strengthening their joint position in the global market.
The agreement signed in Seoul between REPT BATTERO and Hyosung Heavy Industries provides for the supply of 2.5GWh of energy storage systems aimed at strengthening their joint position in the global market.
RIC Energy and Siemens have signed an agreement to develop industrial projects in Spain focused on renewable hydrogen, green ammonia and e-fuels, including technical solutions and financing mechanisms.
Verdagy will supply hydrogen to Mainspring Energy to power a linear plant in Moss Landing, with operations expected to begin by summer 2025.
Verdagy will supply hydrogen to Mainspring Energy to power a linear plant in Moss Landing, with operations expected to begin by summer 2025.
Solveo Energies has inaugurated an experimental agrivoltaic system in the Pyrénées-Orientales, combining solar power production and crop protection on a farm facing drought conditions.
Solveo Energies has inaugurated an experimental agrivoltaic system in the Pyrénées-Orientales, combining solar power production and crop protection on a farm facing drought conditions.
European Energy has begun commercial e-methanol production in Denmark and reported an EBITDA of €45.9mn, while accelerating its international expansion, particularly in Australia.
European Energy has begun commercial e-methanol production in Denmark and reported an EBITDA of €45.9mn, while accelerating its international expansion, particularly in Australia.

Advertising

OSZAR »