Afren Plc. announced last Friday that it has provisionally suspended production at Barda Rash filed as a cautionary step in the recent events of heightened security issues in the region. Afren officials have been working closely with its local security consultants in order to execute a phased withdrawal for unnecessary field staff from the Barda Rash field. However, all the remaining Afren operations in the Kurdistan are unchanged. Meanwhile, the company will keep closely monitoring the events in the region and consulting with its security advisors and the relevant authorities.Moreover, Afren added that they will return to filed operations as soon as it is cautious to do so and that this interruption is not expected to affect the Group’s cash flows.
Middle East based consultancy Dunia Frontier has called the Iraqi finance sector the last frontier for investors interested in oil and gas based financial services.Read More