KRG Signs Landmark Energy Agreements in Washington to Boost Investment, Energy Security, and Economic Growth

On Monday, May 19, 2025, Prime Minister Masrour Barzani of the Kurdistan Regional Government (KRG) presided over a high-level ceremony at the United States Chamber of Commerce in Washington D.C., where two major energy agreements were signed to expand the Kurdistan Region’s energy infrastructure and unlock long-term investment opportunities across both the Kurdistan Region and Iraq.

These agreements lay a robust foundation for the strategic development of the Topkhana energy block in Garmian—an asset with significant commercial potential. This initiative is designed to strengthen energy security while generating attractive returns for stakeholders and driving economic growth throughout the region.

The signing marks a pivotal step in the KRG’s broader strategy to attract foreign investment, develop domestic energy resources, and realise its goal of delivering 24-hour electricity to millions of citizens through sustainable and market-oriented solutions.

The combined Topkhana-Kurdamir block holds an estimated 5 trillion standard cubic feet of natural gas and 900 million barrels of recoverable crude oil. Developed through a phased and commercially structured plan, the project is expected to generate approximately $70 billion in revenue over its lifetime, offering substantial value to investors and strategic partners.

In parallel, HKN Energy and ONEX Group, through their joint venture Miran Energy, have signed agreements with the KRG to advance the development of the Miran Gas Field.

Located in the Kurdistan Region, the Miran Gas Field contains an estimated 8 trillion standard cubic feet (scf) of recoverable natural gas. The agreement paves the way for its phased development, with the potential to create over $40 billion in long-term value while enhancing regional export capacity and energy resilience.

These developments reaffirm the Kurdistan Region’s commitment to maintaining a stable, transparent, and investor-friendly environment for international energy companies.

Department of Media and Information