Azerbaijan, Baku, Sept. 20 / Trend A. Taghiyeva /
According to the agreement on oil payments, signed by Iraqi Kurdish autonomy and the central government last week, in Baghdad will supply 147,000 barrels of oil products a day to the autonomy, the government of Kurdish autonomy said today.
Thus, around 17 percent of domestically produced oil products will be supplied to the Kurdish autonomy.
Iraqi central government and the Kurdish autonomy reached an agreement on oil payments. According to it, Baghdad will repay all the debts for the oil export to the autonomy and will pay for the work of foreign companies in the autonomy. The Kurdish side will continue to supply oil to the central government, stopped four months ago.
Relations between the Kurdish administration in northern Iraq and Baghdad deteriorated in October 2011 after US-based Exxon Mobil received permission from the Kurdish authorities on the exploration and production of oil in this Iraqi region. Baghdad considered the deal illegal and warned the company that if it did not abandon the agreement with the Kurds, its deals with the central Iraqi government may be revised.
According to BP, Iraq's proven oil reserves amounted to 143.1 billion barrels as of late 2011.
The country ranks third in OPEC after Saudi Arabia and Iran. According to BP, oil production in Iraq amounted to 2.798 million barrels per day in late 2011.
The Kurdish administration in northern Iraq has oil reserves of 45 billion barrels.