The Kurdistan Region of Iraq: Scenarios for Future Investment in the Energy Sector

The Kurdistan Region of Iraq (KRI) came tantalizingly close to becoming an independent hydrocarbons province in 2017, marketing over 600,000 barrels per day of oil exports and drawing in major investors such as Rosneft to its midstream and gas sectors. Then came the September 25 independence referendum, resulting in the Iraqi military reconquest of the Kirkuk oilfields, which stripped more than half of Kurdish oil exports from the region.
Gross uncertainty now surrounds the future economic viability of the KRI and its energy projects, the ability for foreign investors to access the KRI, and the basic security of key areas within the region. Horizon’s new study explores scenarios for the KRI in the next 1-3 years.
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