KNOC strikes oil in Hawler field in Kurdish part of Iraq

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KNOC strikes oil in Hawler field in Kurdish part of Iraq

Korea National Oil Corporation said yesterday a joint oil exploration project has successfully discovered a significant amount of oil in the Hawler field in Iraq. The Korean state-run oil company has a 15 percent stake in the mine while the Swiss company Oryz Petroleum owns 65 percent while the remaining 20 percent is owns by the Kurdish government. A drill test estimated daily production of 10,000 barrels of oil.

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