Middle East Economic Survey

VOL. LIV

No 20

16-May-2011

IRAQ

KMG Pulls Out Of 'Akkaz Project As Problems Mount On Hydrocarbon Expansion

Kazakhstans state-owned KazMunaiGaz (KMG) on 11 May announced it was pulling out of its involvement in the development of the 5.6 trillion cu ft 'Akkaz gas field in Iraq. KMG has informed both the Ministry of Oil and Koreas Kogas, its partner on the project, a company statement said.

KMG would like to stress that it still believes Iraq to be an attractive...