Erbil and Baghdad have reached an important agreement on protecting international oil companies and restarting oil production and exports from the Kurdistan Region. Officials believe the deal could help secure timely salary payments and improve Iraq’s financial stability.
The agreement was announced on Sunday evening. Under the deal, international oil companies will resume operations and restart oil production after receiving security guarantees from the Iraqi government.
The breakthrough followed a recent visit by Masrour Barzani to Baghdad. During the trip, he met with Ali al-Zaidi. The two sides reached a preliminary understanding on restarting oil exports.
A high-level Iraqi security delegation also arrived in Erbil on Sunday. Iraqi officials assured the Kurdistan Regional Government and international companies that they would prevent future missile and drone attacks on oil facilities.
According to government spokesman Sabah al-Numan, Prime Minister Ali al-Zaidi ordered federal authorities to strengthen the rule of law and protect Iraq’s economic security.
A senior military delegation, led by Abdul Amir Yarallah, visited Erbil to discuss security cooperation. The delegation also focused on protecting sensitive national facilities.
During the visit, the delegation met with Nechirvan Barzani, Masrour Barzani, and other Kurdish leaders. Both sides agreed to prepare a detailed plan to protect international oil companies. They also agreed to end attacks on oil installations.
The two governments stressed the importance of continued cooperation between Iraqi forces and the Peshmerga Forces. They pledged to close security gaps and prevent terrorist threats.
Oil companies have completed their preparations to restart operations. They expect oil exports to reach between 200,000 and 250,000 barrels per day within two to three weeks.
The Kurdistan government and oil companies have also informed Ali al-Zaidi that they can raise exports to 450,000 barrels per day. They believe higher exports can help Iraq overcome its financial difficulties.
The resumption of Kurdistan’s oil exports remains vital for the region’s economy. Officials say it is also essential for guaranteeing monthly salary payments on time.
