Chevron to restart drilling in Kurdistan

Chevron getting bold and fixing to restarting drilling in Kurdistan. This seems like a huge risk to me.

 

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It's not really a physical risk, I don't think. I mean, they're already there. They just delayed drilling back in October. The bigger risk is actually getting paid. Right now, the Kurds have pretty much lost their battle with Baghdad. 

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But expense risk, correct? I mean, what kind of capital do they need to expend in order to restart drilling? Just seems like it might not be worth it, ultimately. Has the world run out of places to drill that big oil such as Chevron needs to drill in places like disputed Kurdistan? What does this area have geologically that say, somewhere more benign doesn't have?

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