Exxon Confirms Kurdish Energy Deal

ExxonMobil has confirmed exploration deal with Kurdish government.

The company said that it will explore for oil and gas in the region for five years and will have an option for a two year extension. In November, Kurdish semi-autonomous region inked a deal with ExxonMobil.

Iraqi government does not recognise deals struck with Kurdish regime as it violates Iraqi laws.

Iraqi authorities has announced earlier this month that Exxon will be barred from taking part in the fourth round of oil and gas auctions scheduled for May.