
Friday, 14 September, 2012 , 14:53
Kurdistan halted its oil exports via the federal government on April 1 over $1.5 billion it said is owed to foreign oil companies working in the region that Baghdad has allegedly withheld, but then resumed them again on August 7, in what was billed as a confidence-building measure.
A Kurdistan official then said on September 1 that the region would extend the exports until the 15th.
The deal was reached on Thursday at a meeting chaired by Deputy Prime Minister Roz Nuri Shaways and attended by Iraqi and Kurdistan officials, a statement on the website of the autonomous Kurdistan region's government said.
Under the deal, which is to be inked next week, Kurdistan will export 140,000 barrels of oil per day for the rest of September, then 200,000 barrels per day for the remainder of the year, the statement said.
It will meanwhile receive an "advance" of one trillion Iraqi dinars (about $833 million) from the federal government, and will determine the amount of oil it will export in 2013, and also determine the remunerations due to companies operating in the region, for inclusion in the 2013 federal budget law, it said.
The region is also to receive 17 percent of the oil refined in Iraq, and 17 percent of the crude supplied to federal government power plants.
The two sides also agreed to establish a committee of representatives from the Iraqi and Kurdistan governments to track the amount of oil produced and refined, and keep note of remunerations for the companies working in the region.
Another committee also made up of representatives of the two sides is to follow up on the implementation of the agreement, and work to resolve any obstacle that may be encountered, until the passage of an oil and gas law that has languished for years.
Baghdad and Arbil are at odds over issues including Kurdistan's refusal to seek approval from the central government for oil contracts it has awarded to foreign firms, and over a swathe of disputed territory in northern Iraq.
Baghdad says all oil deals must go through the national oil ministry and regards any that do not as illegal.