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Iraq, Kurdish Officials and Oil Companies to Meet in Early Dec to Change Contracts

OIL

Iraqi oil officials will meet representatives of international oil companies and Iraqi Kurdish officials in early December to discuss contract changes to resume exports from Iraq’s northern fields via the Turkish port of Ceyhan, Iraq’s Deputy Oil Minister, Basim Mohammed, said, cited by Reuters.

  • "If we reach an agreement with these companies to modify their contracts, then oil exports will resume via Turkey," the minister told Reuters.
  • "We expect to reach a deal with the companies. These companies like to continue operating in the region and without any issues," he said.
  • He added, ideally these contracts would be similar to the model used in Iraq's fifth licensing round with UAE-based Crescent Petroleum.
  • Both Iraqi and Turkish officials have previously stated their readiness to resume exports but outstanding agreements with international oil companies operating in the region have hindered flows from restarting.
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