DNO, Genel and Gulf Keystone’s combined CAPEX in Kurdistan has fallen considerably as a result of the Kurdistan Regional Government’s lack of payment to producing international oil companies. DNO, Genel and Gulf Keystone’s combined capital expenditure (CAPEX) in Kurdistan has fallen considerably as a result of the Kurdistan Regional Government’s lack of payments to producing international oil companies, according to DNO Executive Chairman Bijan Mossavar-Rahmani. Addressing delegates at the Kurdistan-Iraq Oil & Gas Conference held in London Tuesday, Mossavar-Rahmani said that the total CAPEX of all three companies in Kurdistan in the first half of the year fell to below $200 million from $800 million for the full year in 2014. The DNO Chairman also revealed that around $4 billion is being lost in revenue per year due to production decreases in Kurdistan which have been partly caused by the uncertain payment strategy for IOCs by the KRG. Rigzone, […]