The Kurdish oil sector is seeing positive momentum. But modest 36,000 b/d gains at Atrush and Sarqala pales beside the 280,000 b/d lost at Kirkuk last October.

On the back of higher oil prices and regular payments from Iraq’s Kurdistan Regional Government (KRG), foreign firms in the region are increasingly willing to reinvest. The results are beginning to show. Russia’s Gazprom Neft plans to drill a third well at its Sarqala field in Q3, wrapping up Phase-1 development which has...