Kur­dis­tan oil ex­ports to reach 500K by first quar­ter of 2015

The Kurdish Globe - - NEWS -

Dr Ashti Hawrami, the KRG’s Min­is­ter of Nat­u­ral Re­sources, this week in London said that for the first time the Fed­eral Iraqi Gov­ern­ment is show­ing a con­struc­tive ap­proach to find a so­lu­tion to oil dis­putes.

Min­is­ter Hawrami an­nounced that they are plan­ning to boost oil ex­ports to half a mil­lion bar­rels per day dur­ing the first quar­ter of 2015.

“By the end of the year, we will be a ma­jor contributor to Iraq’s bud­get,” Hawrami told the con­fer­ence at­ten­dants.

Min­is­ter Hawrami was speak­ing at the launch of The Kur­dis­tan Oil and Gas Year book 2014, a guide to Kur­dis­tan’s hy­dro­car­bons sec­tor, at the Dorch­ester Ho­tel. At the launch of the book which is pro­duced by Wild­cat Pub­lish­ing, the KRG’s Nat­u­ral Re­sources Min­is­ter re­ceived the "Oil Man of the Decade" award as nom­i­nated by oil company ex­ec­u­tives.

Dr Hawrami was re­fer­ring to the re­cent agree­ment be­tween the Kur­dis­tan Re­gional Gov­ern­ment and the Iraqi Fed­eral Gov­ern­ment, whereby in ex­change of re­ceiv­ing its share of the bud­get and fund­ing for the Pesh­merga forces out of the fed­eral de­fense bud­get, the KRG will sell 250,000 bar­rels of oil per day via SOMO (Iraq’s state oil mar­ket­ing or­ga­ni­za­tion).

Sev­eral se­nior rep­re­sen­ta­tives of oil com­pa­nies at­tended the book launch. Min­is­ter Hawrami said, “I thank the oil com­pa­nies for trust­ing the Kur­dis­tan Re­gion and our oil pol­icy, and for con­tribut­ing to where we are now.” He added, “This year when we faced ISIS, re­ceived another 1.25 mil­lion IDPs, and had our bud­get with­held by Bagh­dad, your pres­ence was im­por­tant.”

He added that he hopes that the Kur­dis­tan Re­gion can move away from re­ly­ing on oil alone, cit­ing the ex­am­ples of Norway and Qatar, and de­velop agri­cul­ture, tourism and the in­dus­trial sec­tor.

Mr Todd Kozel, the founder of Gulf Key­stone Pe­tro­leum which has op­er­a­tions in Kur­dis­tan, pre­sented the Min­is­ter with the "Oil Man of the Decade" award. He said, “One man has stood out and guided us ev­ery step on the way: Dr Hawrami.”

Gilles Valentin, Edi­torin-Chief of the Oil and Gas Year book, said that 2014 was a re­mark­able year for the Kur­dis­tan Re­gion from com­plet­ing an ex­port pipe­line to fac­ing at­tacks by the ISIS.

The Oil and Gas Year pub­lish­ing company do­nated a check for $100,000 to the Kur­dis­tan Emer­gency Ap­peal, a UK-based ini­tia­tive to pro­vide aid to 1.5 mil­lion peo­ple who are shel­ter­ing from ISIS. Gulf Key­stone Pe­tro­leum do­nated two photographs to a silent auc­tion, with the funds go­ing to the IDPs in Kur­dis­tan.

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