International oil companies in Iraqi Kurdistan are not included in ongoing discussions concerning oil production and export from the region, according to the trade body representing them.
A statement was released on Tuesday by the Association of Kurdistan’s Petroleum Industry (APIKUR).
APIKUR member companies – which represent the majority of the oil produced by IOCs in Kurdistan – have yet to be included in these meetings or invited to participate in any future discussions between the KRG and GoI.
“It reiterates that its members are still prepared to meet with stakeholders and implement solutions.”
Gulf Keystone Petroleum (GKP), HKN Energy, ShaMaran Petroleum, Genel Energy, and DNO are the entities that make up APIKUR.
Complete remarks made by APIKUR:
APIKUR has been made aware of recent meetings held between officials from the Government of Iraq (GoI), representatives of the Kurdistan Regional Government (KRG), and International Oil Companies (IOCs). However, despite representing the majority of the oil produced by IOCs in Kurdistan, APIKUR member companies have not been invited to participate in any of these meetings, nor have they been included in any future meetings between the KRG and GoI.
The member companies of APIKUR are confident that their current contracts are legally binding and can be enforced. However, we believe that there are immediate solutions that can be implemented to satisfy all parties, protect the contractual rights of IOCs, and enable the resumption of oil exports from the Kurdistan Region of Iraq.
APIKUR is ready to work with all parties to progress solutions for the benefit of all Iraqis.
“Ensuring the sanctity of contracts and clearly defining methods of past and future payments is crucial for the APIKUR member companies to resume full oil production and export,” said Myles B. Caggins III, the spokesperson for APIKUR. “APIKUR members are prepared to hold meetings with officials from the GoI and KRG. Any further delays will only harm the economic livelihood of all Iraqis.”
