North Iraq administration launches oil export

Oil&Gas Materials 1 June 2009 14:27 (UTC +04:00)

North Iraq launches oil export via the Kirkuk-Yumurtalyk pipeline to Turkey since June 1, the Turkish Dunya Bulletin reported.

The N. Iraq administration will receive 17 percent of the total incomes from oil export in accordance with the Constitution.

According to local administration officials, the daily production will be 60,000 barrels of oil. The export of oil is very significant event for North Iraq.

The daily produce 60,000 barrels of oil will be transported via the Turkish-Iraqi pipeline.

The State Oil Marketing Organization will export oil from the Tawke and Taq-Taq fields. The oil shipment will be carried out via the pipeline to the Turkish port of Ceyhan.

In January 2008, the Iraqi Oil Ministry stopped operating with foreign oil companies that cooperated with the North Iraq administration. The Government adopted a new law on centralization of contracts to explore and produce oil, which were opposed by the Kurdish authorities and signed direct contracts with foreign companies.