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Exclusive.. Baghdad takes new measures regarding the oil dispute with the Kurdistan Region
Shafaq News Agency obtained a special document from the National Oil Company, to the Kurdistan Regional Government, to implement the decision of the Federal Court related to oil and gas contracts in the region, requesting the regional government to direct those concerned to take certain measures.
According to the document, these measures are to provide the National Oil Company with a copy of contracts and agreements concluded since 2004 regarding oil and gas with companies in the field of "exploration, production, transport, sale and export."
The company also demanded, according to the document, to nominate a specialized team to work with the Supreme Steering Committee to submit a request to the Council of Ministers to establish a public oil company entrusted with the tasks of managing the overall oil and gas activity in the fields contracted by the Kurdistan Region.
The document also stipulated the nomination of a specialized employee of no less than a general manager's rank to open a fund account in one of the international banks for the purpose of depositing all proceeds resulting from the sale and export of oil and gas.
The document indicated that all the incoming procedures constitute a new future policy for the management of oil wealth, and that all concerned parties bear the future obligations arising from them.
The National Oil Company revealed to Shafaq News agency that it had contracted with international consulting companies to study and evaluate oil and gas contracts in the Kurdistan Region.
A source in the company said in an interview with Shafaq News Agency, "The company has developed a plan to transfer Kurdistan Region contracts and a mechanism for receiving export funds after completing the evaluation process."
On February 15, the Federal Supreme Court declared the unconstitutionality of the oil and gas law of the Kurdistan Regional Government and its abolition, and obligating the regional government to hand over all oil production from the oil fields in the Kurdistan Region and other areas from which the Ministry of Natural Resources extracted oil and handed it over to the federal government represented by the Ministry of Oil Federal.
An official source in the National Oil Company had announced on the first of this March that joint committees from Baghdad and Kurdistan will discuss how to implement the Federal Court's decision.
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According to the document, these measures are to provide the National Oil Company with a copy of contracts and agreements concluded since 2004 regarding oil and gas with companies in the field of "exploration, production, transport, sale and export."
The company also demanded, according to the document, to nominate a specialized team to work with the Supreme Steering Committee to submit a request to the Council of Ministers to establish a public oil company entrusted with the tasks of managing the overall oil and gas activity in the fields contracted by the Kurdistan Region.
The document also stipulated the nomination of a specialized employee of no less than a general manager's rank to open a fund account in one of the international banks for the purpose of depositing all proceeds resulting from the sale and export of oil and gas.
The document indicated that all the incoming procedures constitute a new future policy for the management of oil wealth, and that all concerned parties bear the future obligations arising from them.
The National Oil Company revealed to Shafaq News agency that it had contracted with international consulting companies to study and evaluate oil and gas contracts in the Kurdistan Region.
A source in the company said in an interview with Shafaq News Agency, "The company has developed a plan to transfer Kurdistan Region contracts and a mechanism for receiving export funds after completing the evaluation process."
On February 15, the Federal Supreme Court declared the unconstitutionality of the oil and gas law of the Kurdistan Regional Government and its abolition, and obligating the regional government to hand over all oil production from the oil fields in the Kurdistan Region and other areas from which the Ministry of Natural Resources extracted oil and handed it over to the federal government represented by the Ministry of Oil Federal.
An official source in the National Oil Company had announced on the first of this March that joint committees from Baghdad and Kurdistan will discuss how to implement the Federal Court's decision.
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