Hunt Petroleum Operations in Iraq

=History=

The contracts signed by Hunt in 2007 mark the beginning of Hunt's operations in Iraq.

=Activities and Contracts=

Ain Sifni (Kurdistan)
The production sharing contract (PSC) signed by Hunt in September 2007 was the first to be signed with the Kurdistan Regional Government (KRG) since the enactment of the Oil and Gas Law of the Kurdistan Region in August 2007. Hunt entered into the contract, which covered petroleum exploration activities in Kurdistan's Duhok area, with Impulse Energy Corporation as its junior partner. Hunt and Impulse each held 50 percent working interests in the Ain Sifni block as of mid-2011. In July 2011, London-based oil company Afren bought a 20 percent stake in the field. Hunt, as the field's operator, retained 60 percent and the KRG a 20 percent stake in the field.

Leaked US diplomatic cables note that the US government discouraged companies from signing oil deals with the KRG until Iraq had enacted its regional hydrocarbons law. However a senior Hunt manager told a US official in Erbil that the area's high potential for oil production "trumped" the risks and legal ambiguities associated with its involvement in a disputed territory such as northern Nineveh.

=References=