Monday, August 11 12:40:40
Independent oil and gas explorer Petroceltic and its partner Hess Middle East New Ventures have suspended operations in Iraqi Kurdistan and are evacuating non-essential staff, the Irish company said today.
"It has been decided, as a precautionary measure, to temporarily secure and suspend operations, including the drilling of Shireen-1 exploration well in the Dinarta licence," Petroceltic said in a statement.
The partners' decision follows announcements on evacuations and suspensions of production from other oil companies active in the region as violence spreads with the advance of Islamic State militants.
For more visit: www.businessworld.ie