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UPDATE 1-Iraq to resume Kurdish oil exports soon - oil min

Stocks

   

Tue Feb 9, 2010 7:07pm IST

* Norway's DNO shares jump 10.5 pct

* Ahdab oilfield's production capacity at 200,000 bpd

(Adds details, background)

BAGHDAD, Feb 9 (Reuters) - Iraq expects to resume oil exports from its Kurdistan region "in the near future", Oil Minister Hussain al-Shahristani told reporters on Tuesday, but the fate of disputed deals with foreign oil firms is unclear.

Exports had been stopped for several months by a row between the largely autonomous Kurdish region and the Baghdad government over oil deals Kurdish leaders had signed independently, including a contract with Norway's DNO (DNO.OL).

"Finding a solution ... to these contracts will take a long time. But exporting oil will resume in the near future, God willing," Shahristani said. "The resumption of exports has no connection with finding a solution to these oil contracts."

DNO shares jumped 10.5 percent on the news that exports from Kurdistan in Iraq's north, which Kurdish leaders had targeted at 100,000 barrels per day, would resume after being stopped last year. Exports had started amid great fanfare in June.

Separately Shahristani said that production capacity at Iraq's Ahdab oilfield, which is being developed by the China's CNPC, was found to be 200,000 barrels per day (bpd) after seismic surveys, up from 115,000 bpd. (Reporting by Ahmed Rasheed, writing by Mohammed Abbas: Editing by William Hardy)

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