The Deputy Prime Minister for Energy Affairs, Minister of Oil, Thamer Al-Ghadban, revealed on Thursday the details of the agreement between Baghdad and Erbil regarding the delivery of the Kurdistan region to 250 barrels of oil per day to the company “SOMO”.
Al-Ghadban said in a statement reported by Al-Sabah newspaper today that “the federal government has agreed with the Kurdistan region that the latter will hand over (Sumo) company 250 thousand barrels per day of crude produced there as of 1/1 of next year.”
He added that “the federal government and the provincial government are serious about solving problems related to the oil file between the center and the region, and accordingly I recently conducted several visits to the Kurdish negotiating delegation to resolve this file, the last of which was two visits focusing on the federal budget and its working mechanisms and how to calculate the region’s share.”
He explained that “the two sides set the region’s obligations towards the federal government and the budget, especially that the region’s current production of crude oil reaches 450 thousand barrels per day and most of it goes to export”, noting that “the agreement was made that the ceiling of production in the region be around 450 thousand barrels because This affects the share of Iraq in (OPEC). ”
He stressed, “The agreement that was concluded between the federal government and the region requires that the latter, starting from the first of January next, hand over the federal government 250 thousand barrels per day of crude oil produced out of the amount produced there amounting to 450 thousand barrels per day.”
The Ministry of Oil announced that Iraq’s oil production is currently four million and 500 thousand barrels per day, while it confirmed that the planned export volume is three million and 880 thousand barrels, including Muslim women from the region.