Iraq: Ministry approves plan for Akri-Bijeel

The Ministry of Natural Resources has approved a field development plan (FDP) for the Akri-Bijeel Block, north of Erbil, according to Hungary’s MOL Group, whose 100%-owned MOL Kalegran subsidiary operates the block. In a statement on 30 October, MOL said the FDP related to two commercial discovery areas, Bijell and Bakrman. The key terms of a related lifting agreement and pipeline construction agreement are under discussion with the ministry, the statement said. MOL’s partner in the block is troubled Gulf Keystone Petroleum (GKP), which has a 20% working interest. GKP said earlier in 2014 that it might consider selling its interest in Akri-Bijeel, as it struggled to raise enough working capital following operational setbacks and a court case against Excalibur.