ERBIL, Kurdistan Region of Iraq – The multi-billion-dollar contracts signed in May between the Kurdistan Regional Government (KRG) and two major US-based oil companies are set to enter the implementation phase soon, a KRG minister told The New Region on Thursday.

Kurdistan Region Prime Minister Masrour Barzani, in May, presided over the signing of two major agreements in the energy sector between the KRG’s natural resources ministry and HKN Energy and WesternZagros in Washington, DC. The deals have a combined value of $110 billion and aim to boost the Kurdistan Region’s energy sector.

“The two companies are scheduled to begin work in the near future, and the contracts have no legal problems or issues,” Kamal Mohammed, KRG’s Minister of Natural Resources, told The New Region through a representative.

The New Region understands that the companies have been conducting preparation efforts for months and are scheduled to start operations at the beginning of 2026.

WesternZagros operates in the Garmiyan Administration’s Topkhana-Kurdamir field, known to be a rich source of oil and gas, containing around five trillion cubic meters of gas and above 900 million barrels of crude oil, with a contract value of 70 billion dollars.

Meanwhile, HKN Energy operates in Bazian’s Miran gas field, containing eight trillion cubic feet of natural gas, with a contract value of 40 billion.

The initiation of the two companies’ operations is expected to provide employment to hundreds of locals, as per the contracts, according to the KRG minister, adding that the companies have to prioritize locals in the hiring process, then residents of the Kurdistan Region, and finally, if no candidate meets the requirements, they are permitted to employ individuals from outside the Region.

In July, HKN Energy briefly suspended its operations in the Region following a number of drone attacks. However, the company currently continues its services and played a major role in the resumption of the Kurdistan Region’s oil exports, according to a statement released by Iraqi Prime Minister Mohammed Shia al-Sudani’s office in early October.

Exports of crude oil from the Kurdistan Region through the Iraq-Turkey pipeline resumed in late September after a 30-month halt, following the signing of a breakthrough agreement between Erbil, Baghdad, and international oil companies operating in the Region.

The Kurdistan Region exports around 185,000 barrels of oil per day through the Turkey-Iraq pipeline following its resumption.