New Deals with HKN Energy, Western Zagros Will Advance Both Nations’ Energy Goals
WASHINGTON, May 19, 2025 /PRNewswire/ — On Monday, Prime Minister Masrour Barzani oversaw the signing of two major agreements between the Kurdistan Regional Government (KRG) and American energy companies during his visit to Washington. The agreements, estimated to be worth a combined $110 billion over the lifetime of the projects, highlight the growing, mutually beneficial strategic partnership between the KRG and the United States.
The KRG signed an agreement with Texas-based HKN Energy Ltd to operate the Miran Block in the Kurdistan Region, worth an estimated $40 billion over its lifetime. The second agreement is with Western Zagros, owned by Crest Energy International, an investment firm based in Houston, Texas, to operate the Topkhana-Kurdamir gas field in the Kurdistan Region. This project is valued at an estimated $70 billion over its lifetime.
“Like the United States, the Kurdistan Region recognizes the critical need for energy, and we are proud to deepen our relationship with U.S. energy leaders to help Kurdistan achieve this goal,” said Prime Minister Masrour Barzani. “The Kurdistan Region has an abundant supply of natural resources, and by partnering with HKN Energy and Western Zagros to develop it, we will take a major step toward energy sustainability for Kurdistan while helping boost the U.S. energy industry. The KRG looks forward to bringing these new projects to completion, and to continuously exploring new economic initiatives with our friends in the United States.”
The latest deals follow last month’s announcement of a $100 million agreement between GE Verona, a subsidiary of General Electric, and Taurus Energy to upgrade the Bazyan power plant, a 1,250 MW facility in the Kurdistan Region that supplies electricity to over 1.5 million homes across Iraq.
Overall, the quick succession of mutually beneficial energy deals underscores the strengthening U.S.-KRG economic partnership and serves as a first step toward even deeper business ties in the months and years to come.
These materials are distributed by Chartwell Strategy Group on behalf of the Kurdistan Regional Government. Additional information is available at the Department of Justice, Washington, DC.
SOURCE Kurdistan Regional Government
