According to NS Energy Business, the Russian company Rosneft Russia has acquired a 60% stake in the Iraqi Kurdistan Region crude oil pipeline. This contract has been implemented since 2019 and will continue until 2039. According to NS Energy, the contract for the control of the Kurdistan Region oil pipeline to Turkey, which is a total of 420 km, can be extended for another 5 years.

Also Kurdistan Region Working Group owns the remaining 40% of the shares in the pipeline.

The maximum crude oil transfer capacity of this pipeline is about 950,000 barrels per day.

According to the report, the largest oil field in the Kurdistan Region, called Sheikhan, is connected to this pipeline and about 70 million tons of crude oil have been extracted from it and exported to Turkey and world markets through this pipeline. The remaining reserves of Sheikhan oil field are estimated at 570 million tons.

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