Iraq crude export deal
Baghdad (IraqiNews.com) – London-based Genel Energy welcomed agreements between the Federal Government in Baghdad, the Kurdistan Regional Government and international operators to restart exports of crude from Iraq’s Kurdistan Region through the Iraq–Turkey pipeline.
The company confirmed that it continues to market crude from the Tawke licence domestically on a cash-upfront basis.
Tawke, one of the largest producing fields in the Kurdistan of Iraq, is jointly operated with Norwegian producer DNO, which earlier announced preparations to resume exports under the new framework.
Exports through the pipeline have been halted since early 2023, cutting off a key revenue stream for Iraq.
The resumption of flows under the oversight of Iraq’s State Organization for Marketing of Oil (SOMO), based in Baghdad, is expected to stabilize revenues, with international oil companies reimbursed for costs and receiving payments from crude sales at Ceyhan.
Genel, which also holds interests in the Taq Taq and Sarta licences, said it continues to monitor developments and remains engaged with stakeholders as Iraq’s energy sector transitions back to international sales.
