Iraq reveals developments in resuming oil export via Turkey, 17 MARCH

Iraq reveals developments in resuming oil export via Turkey

Shafaq News / The Iraqi Ministry of Oil revealed, on Saturday the latest developments in the work of technical committees between Baghdad and Erbil to resolve the issue of oil exports from the fields of the Kurdistan Region (KRI) through the Turkish port of Ceyhan.

The ministry's spokesperson Asim Jihad told Shafaq News Agency that "technical committees are working between Baghdad and Erbil to finalize a transparent agreement between the two parties to end the disputes regarding the export of oil from KRI after its cessation."

Jihad added that these committees "discuss export mechanisms and related matters, including financial entitlements resulting from oil sales, as well as the rights of oil companies that have entered into partnership contracts with the Regional Government (KRG). By resolving these issues and reaching a comprehensive agreement, oil exports will resume."

He continued, "Reaching an agreement with the Turkish side is not difficult to resume oil exports, as we have discussed with the Turkish side regarding this matter, and they responded that the pipelines are ready."

He added, "The Ministry of Oil has worked on repairing the Kirkuk-Ceyhan pipeline to be ready for export, but resuming pumping is linked to technical operations determined by the ministry in coordination with oil companies."

Regarding oil production in the Region, Federal Oil Minister Hayyan Abdul Ghani stated that "there are negotiations with companies currently operating in the Region because they have entered into contracts with the Kurdistan Region based on partnership. However, the Iraqi Constitution prohibits partnerships in fields, and efforts are underway to change these contracts to profit-sharing rather than assets and production."

Turkey halted oil exports amounting to 450,000 bpd from Kurdistan through the Ceyhan pipeline last March after the International Chamber of Commerce ordered Turkey to compensate Baghdad for damages incurred from KRG's unauthorized oil exports between 2014 and 2018.