The South Korean news agency Yonhap reports that there has been a “significant” oil discovery in the Hawler field in Iraqi Kurdistan.

State-run Korean National Oil Corporation (KNOC), which owns 20 percent of the field, said it yielded 10,000 barrels per day during initial testing.

Swiss company Oryx Petroleum has a 65 percent interest in the field wit the Kurdish government owning 15 percent.

Last August, KNOC assigned its 20 percent working interest in the Sangaw North PSC back to the Kurdistan Regional Government (KRG), but retains a share in the Bazian block.

(Source: UPI, Yonhap) By John Lee.