The Kurdish region of Iraq is currently more likely to reach a bilateral deal to export oil to Turkey than to resolve its differences over oil developments with the central government in Baghdad, said Tony Hayward, chief executive of Genel Energy PLC (GENL.LN) Wednesday.
The Kurdish region of
Iraq
is
currently more likely to reach a bilateral deal to export oil to
Turkey
than
to resolve its differences over oil developments with the central government in
Baghdad
, said Tony Hayward, chief
executive of Genel Energy PLC (GENL.LN) Wednesday.
There is lots of momentum towards a deal between the Kurdistan Regional
Government and the Turkish government after a significant meeting between the
two in the Kurdish capital in
Erbil
,
Hayward
said
at the World National Oil Companies Congress in
London
.
A deal with
Baghdad
remains possible, but the political situation has worsened recently and an
agreement with
Turkey
is a
safer bet, he said. "One way or another that oil is going to find a way to
market," Mr. Hayward said.
Genel currently produces 100,000 barrels a day of oil from its Taq Taq oil
field in
Kurdistan
.
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