Turkey Threatens to Invade Iraq, Cut Off Oil Pipeline

By John Lee.

Turkish President Recep Tayyip Erdoğan (pictured) has threatened to invade Iraq, and said he could cut off the oil export pipeline from Iraq to the Turkish port of Ceyhan, following the vote supporting independence in Iraqi Kurdistan.

We have the tap,” he said. “It is done once, we close the tap.

The pipeline typically carries between 500,000 and 600,000 barrels of crude oil per day.

In a strongly-worded speech, Erdoğan said that fighting the Iraqi Kurdish bid for independence was “a matter of survival“.

His Prime Minister, Binali Yildirim, added that Ankara could take punitive measures involving borders and air space against the Kurdistan Regional Government (KRG).

Shares in Genel Energy fell 7 percent in early trading on Tuesday, but had recovered by lunchtime; Gulf Keystone Petroleum (GKP) was down 2 percent, while Norway’s DNO was 5 percent higher.

(Sources: The Independent, Alliance News, Reuters, Yahoo!)

Petrofac Wins Iraq Contract with KOGAS

UK-based Petrofac has been awarded a Front End Engineering Design (FEED) modification contract for the KOGAS AKKAS B.V. Nasiriya Gas Treatment Plant (GTP) in southern Iraq.

Petrofac’s scope of work includes the modification and application of an existing field design to meet the needs of the Nasiriya GTP, and an estimation for the engineering, procurement and construction (EPC) costs in line with the revised design requirements.

Steve Webber, Senior Vice President, Engineering & Production Services East, said:

This award is testament to our engineering design capabilities, as well as our deep understanding of the market and supply chain in Iraq. KOGAS is a new client for us in a core market and we look forward to further developing our relationship through the successful delivery of this scope.

“Throughout the project, we will provide a robust FEED package for the execution of the Nasiriya GTP in alignment with KOGAS’ expectations, to ensure that it can maximise the total value of the field.

(Source: Petrofac)