Iraq’s Kurdistan to boost oil output in 2012

23 Oct 2011

(MENAFN) Iraq’s Kurdistan Regional Government’s (KRG) Prime Minister, Barham Salih, said that as a result of oilfield development plans, in 2012, oil output from the region would be expected to reach 250,000 barrels per day (bpd) from 120,000 bpd at the current time, reported Gulf News.

Salih added that during the last weeks, the northern Kurdistan region’s exports declined to around 70,000 bpd compared with 175,000 bpd in June, where the Kurds and the central government in Baghdad accused each other for the drop in exports.

He also said that the central government in Baghdad didn’t pay the money it owed to the KRG from oil exports since February, adding that the amount was estimated at around USD1 billion.

It is worth noting that Kurds transfer their crude via a pipeline to the Turkish export terminal in Ceyhan.

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