Izzat Sabir, undersecretary of the Iraq’s Ministry of Oil for Gas Affairs, has confirmed that the current agreement between the Kurdistan Region, the Federal Government, and oil companies is temporary and will remain in effect only until Iraq’s new budget is approved.

 “The Agreement Is Not for Three Months”

During his appearance on Channel8’s “Target” program, Izzat Sabir stated, “The tripartite agreement between the oil companies, the Ministry of Natural Resources, and Iraq’s Ministry of Oil is not set for a three-month term and will not expire by the end of this year.”

Continuity Until Budget Approval

The Oil Ministry advisor emphasized that the agreement will continue, “…until the new Iraqi budget is officially approved.”

A Broader Agreement Expected Next Year

Sabir also revealed that after the new budget is passed, a more comprehensive and structured agreement will be negotiated, “Following next year’s budget approval, a broader agreement aligned with the new budget and based on mutual commitment and merit will be established.”