Turkey Joins With Genel in Kurdish Miran Block

Turkey is set to increase its presence in Iraq's Kurdish region by taking a majority stake with a British partner in a block containing an estimated 10.5 trillion cubic feet of natural gas. 

The Middle East Economic Digest reports that Genel Energy, a British-Turkish joint venture, will acquire the majority stake in Kurdistan's Miran block from Heritage Oil which is selling off its 49% holding in a production-sharing deal with the Kurdistan Regional Government.

Once the sale is approved by the KRG and Heritage's shareholders, Genel will have complete ownership of the block. The joint venture also has nine exploration blocks across Kurdistan, one of 40-plus companies which have signed production-sharing deals with the KRG in the Kurdish capital, Erbil, since 2007.

UPI says that Ankara recently offered land-locked Kurdistan, which borders southern Turkey, the opportunity to build oil and gas pipelines running to Turkey's Mediterranean export terminals.

Currently the Kurds have to pump the oil they produce through the state pipeline network controlled by Baghdad. That export route would free the Kurds from reliance on the Baghdad government.

See also: Turkish Energy Security in the Spotlight