Fitch Ratings: Iraqi Kurdistan has 3% of world oil reserves

Baku. 27 September. REPORT.AZ/ Iraqi Kurdistan has 3% of world oil reserves which makes 50 bln barrels. 

Report informs citing the RIA Novosti, director of the group on natural resources and raw materials of Fitch Ratings Dmitry Marinchenko said.

D. Marinchenko noted that "Iraqi Kurdistan's proven reserves are close to 50 bln barrels which makes 1/3 of Iraq's aggregate reserves”. According to the group leader, currently 600,000 barrels of oil is extracted in the region.

"The region has a great potential to increase production. Theoretically, production can be increased several times.

For this, problem with security, export channels and investment must be solved.