Middle East Economic Survey

VOL. LII

No 24

15-Jun-2009

IRAQ

KRG Operators Vying For Position After Oil Exports Start-Up

London-listed independent Heritage Oil and Turkeys Genel Enerji on 9 June announced they have signed a memorandum of understanding (MOU) to merge. If realized, the new entity HeritaGE will become the biggest upstream investor in the Kurdistan Regional Government (KRG) area of Iraq, and potentially a FTSE-100 company. The $5.5bn deal could see the creation of an international oil...