Dr. Hamdi Shingali, Deputy Director of SOMO (Iraq’s State Oil Marketing Organization), told Channel8's Target programme that “daily oil production in the Kurdistan Region has increased,” reaching 215,000 barrels per day. Of this, 165,000 barrels are currently being exported via pipeline. He emphasized that efforts are underway to raise production to 400,000 barrels per day.

Export Agreement Between Erbil and Baghdad

Shingali confirmed that “Erbil and Baghdad have agreed to resume oil exports until December 31st of this year.” He clarified that this deadline does not mean exports will stop afterward, but rather that it marks the timeframe for fulfilling current commitments.

No Disruption Expected After Year-End

He stated, “After the deadline, the agreement will be renewed by both parties,” and stressed that this will not affect the continuity of oil exports. “There is no indication of any planned interruption,” he added.

Kurdistan Rejects Baghdad’s Role in Contracts

Shingali revealed that during negotiations, Baghdad attempted to become a party to the oil contracts of the Kurdistan Region. However, “Kurdistan did not agree,” and the contracts remain solely between the Region and the oil companies.

Kurdistan’s Oil Contracts Remain Confidential

He explained that the advisory company tasked with reviewing the contracts and production methods “will only make legal recommendations” and that the contracts “will not be disclosed to the company,” remaining confidential as before.

Audit Report Due in 60 Days

Shingali stressed that the advisory firm, named Wood Mackenzie, “must submit its report within 60 days,” covering production data from all oil fields in the Kurdistan Region.

European Markets Favor Kurdistan Oil

He noted that “Kurdistan’s oil is in high demand,” especially in European markets due to its proximity and low transportation costs.

Oil Sold at SOMO’s Official Price

Finally, he confirmed that “Kurdistan’s oil is sold at SOMO’s official price,” which is set monthly, and SOMO consolidates pricing every seven months.