PM:01:28:31/03/2023
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SULAIMANI — Farhad Hamza, the head engineer at North Oil
Company (NOC), said the Kurdistan Region has no other option except to sell oil
through Iraq’s official State Organization for Marketing of Oil (SOMO).
During an appearance on NRT’s Taw u Twe program on Thursday
(March 30), Hamza said Iraq’s complaint against the Kurdistan Region’s
independent oil contracts was filed years ago but was ignored due to the battle
against the Islamic State and later international support for the Region in
2019.
The Iraqi government won an arbitration case against Turkey
last week over the Kurdistan Regional Government’s (KRG) oil pipeline exports
through Turkey.
Hamza said the decision does not adversely affect the
Kurdistan Regional Government (KRG) and its citizens but could actually be
beneficial if the Iraqi government sends the Region’s budget share properly.
"We have seen the consequences of the independent economy
[in the Kurdistan Region],” he said.
He stated the KRG has to reach an agreement with SOMO on a
mechanism for oil sales.
Oil firms operating in the Region
Hamza said the KRG had done poorly with oil contracts by
bringing small, inexperienced oil companies that had been unsuccessful
internationally to the Region.
In his view, the companies benefitted themselves but harmed
the oilfields and the KRG’s economy.
He claimed an oilfield in Taqtaq, with oil known of a unique
quality known as "black champagne,” had previously produced 160,000 barrels per
day and was now only producing 4,000.
(NRT Digital Media)