KRG official under investigation for providing confidential oil, gas data

KRG official under investigation for providing confidential oil, gas data
5 years ago

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SULAIMANI — The Kurdistan Region’s Ministry of Natural Resources said it is investigating a senior official who may have given “confidential data for oil and gas blocks” to a company based in London.

The Kurdistan Regional Government’s (KRG) Ministry of Natural Resources (MNR) released a statement on Monday (October 3) saying the ministry has found a London-based company is promoting itself to “potential investors as a new upstream investment vehicle” focused on the Kurdistan Region.

The MNR has not given the name of the company which said, according to the MNR statement, its management team includes executives from international oil companies (IOCs) who are operating in the Kurdistan Region, as well as a senior KRG official.

The MNR said in the statement it is investigating the official, whose name has not been given.

“MNR is of the opinion that their involvement may have given rise to a serious conflict of interest with regard to the security of KRG confidential data for oil and gas blocks to which the KRG official and the IOC executives have had access as part of their duties,” the statement added.

The MNR has called on IOCs to launch an investigation into the alleged involvement of their executives to find out whether a “conflict of interest has occurred,” according to the MNR statement, and to discover whether confidential data has been disclosed to potential investors without the consent of the KRG.

“… The laws of the Kurdistan Region are clear about the unauthorized use of confidential data and the involvement of government officials in private business. MNR will not enter into any discussions with companies or potential investors that do not respect the KRG’s laws and regulations,” the statement said.

(NRT)