Korean com­pany dis­cov­ers oil field in Er­bil

The Kurdish Globe - - NATIONAL -

A North Korean com­pany, known as ‘KNOC’ claims to have dis­cov­ered a mon­u­men­tal oil field in Er­bil. The com­pany has not spec­i­fied the amount of oil dis­cov­ered. Ac­cord­ing to Yon­hap, a Korean News Agency, the com­pany in­tends to ex­tract a lim­ited amount of oil from the field for the time be­ing with the co­op­er­a­tion of Orex Com­pany of Swiss.

An ini­tial test con­ducted by the com­pany dis­closes that at least one mil­lion bar­rels of oil can be ex­tracted per day. Er­bil oil field is sit­u­ated in Kawr­gosk sub-district in Er­bil province, from which the Orex Com­pany of Swiss owns 65%, the Korean com­pany owns 20%, and the rest is owned by Kur­dis­tan Re­gional Government.

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