The government Spokesman, Basem Al-Awadi, revealed today, Tuesday, 4 basic provisions included in the agreement between the federal government and the Kurdistan Regional Government regarding oil export.
Al-Awadi said in a televised statement, “The agreement included 4 basic items, the first is the export of 400,000 barrels of oil per day from the Kurdistan region through the National Oil Company (SOMO) and naming a representative of the KR in the company, and this is happening for the first time, and it was suggested that he be an assistant to the Head of SOMO.”
He added, “The second item included the formation of a quartet committee at the rate of two representatives from the Federal Ministry of Oil and two from the Ministry of Natural Resources in the region. This committee supervises the sale of oil extracted from the Kurdistan region in global markets until the issuance of the budget or agreement to speed up the oil and gas law, meaning that this point is temporary.
He continued, “The third item is related to the Kurdistan Region’s agreements with 4 international companies. Many of the provisions of these agreements contain binding legal points. The region demanded, according to the agreement today, the assistance of experts from the Federal Ministry of Oil to facilitate negotiations with these companies in order to implement the new agreement.”
Al-Awadi indicated that “the fourth item included opening a bank account under the supervision of the federal government, and Baghdad demanded that the account be in the central bank, and the formula was amended so that the account be in the bank itself or a bank accredited by the central bank, and authorizes the President of the Kurdistan Government to have the authority to exchange under the supervision of the Federal Office of Financial Supervision in Only what is related to the federal budget for the year 2023.
On the guarantees of implementation, Al-Awadi indicated that “the signing of the minutes of the agreement in the presence of the Prime Minister, Muhammad Shiaa al-Sudani, and the PM of the Kurdistan Regional Government, Masrour Barzani, provides the guarantee.
Source: National Iraqi News Agency