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will GazProm escape sanctions in the south?

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https://en.trend.az/capital/energy/2053091.html5 August 2012, 07:50 (GMT+05:00)Azerbaijan, Baku, Aug.5 /Trend A.Taghiyeva/If the Russian company Gazprom begins cooperation with the Kurdish autonomy without the knowledge of the central government, Baghdad will apply sanctions against the company, spokesman for the Iraqi Oil Ministry Asym Jihad told Trend on Friday."The Iraqi government has repeatedly stated that sanctions will be applied against all international companies collaborating with the Kurdish autonomy without the permission of Baghdad, and Russian companies are no exception," Jihad said.He also noted that the Ministry does not have accurate information about the fact that Gazprom signed a deal with the Kurdish autonomy, however, is investigating the matter, and therefore the Ministry has officially requested the Gazprom and waits for a response.According to Jihad, if the information is confirmed, the company can lose its share in the oil fields of Iraq."The company has major contracts with Iraq on the development of oil fields. If Gazprom still prefer to cooperate with the Kurdish autonomy, all the contracts with the company will be reviewed," Jihad said.Earlier, number of media published information that the Russian company Gazprom signed two agreements to develop oil fields in the Kurdish autonomy. It is reported that Gazprom has acquired a 40 percent stake in the field Germiyan and 80 per cent stake in the block, Jackal.According to BP, Iraq's proven oil reserves amounted to 143.1 billion barrels as of late 2011.The country ranks third in OPEC after Saudi Arabia and Iran. According to BP, oil production in Iraq amounted to 2.798 million barrels per day in late 2011.The Kurdish administration in northern Iraq has oil reserves of 45 billion barrels.Do you have any feedback? Contact our journalist at [e-mail] >