Turkey to collaborate with Exxon Mobil to explore oil in Iraq

A Turkish firm will form a partnership with the Kurdistan Regional Government (KRG) and Exxon Mobil to carryout oil exploration in northern Iraq.

According to Turkish industry sources, Turkish Petroleum International Company (TPIC), an arm of state-run Turkish Petroleum (TPAO) is expected to be the likely partner, reported Reuters.

The Arab-led central government in Baghdad and Kurdish-run northern enclave have a dispute over controlling oilfields and territory and sharing of crude oil revenues.

Exxon Mobil is the first company to sign up for exploration deals with the KRG, while Chevron, Total and Russia-based Gazprom, Neft are the other companies that have signed exploration deals.

Turkey Prime Minister Tayyip Erdogan was quoted by the publication as saying that Turkish company has made an agreement to become a partner with Exxon and the KRG, while more details about the agreement will be cleared after his US visit.

“Our oil company already has an agreement with Exxon Mobil in place … This is a step with the KRG on exploration work,” Erdogan added.