Iraq to manage the oil and gas fields in the Kurdistan Region

A delegation from the Kurdistan regional government is expected to meet with senior Iraqi officials in Baghdad today.

The Iraqi Oil Ministry announced that it has taken all necessary measures to implement a federal court ruling authorizing the management of the oil and gas fields in the Kurdistan Region.

The Iraqi ministry stated that SOMO, the company that sells Iraqi oil, will implement the court ruling in cooperation with the Kurdistan Region authorities, Rojnews reported.

In 2017, the Kurdistan Regional Government passed a law to sell its oil and gas resources independently of the Iraqi central government. The region's huge unused oil reserves and lucrative business agreements have prompted international oil companies to invest billions of dollars in recent years.

In February, Iraq’s federal court deemed the oil and gas law regulating the oil industry in the Kurdistan Region unconstitutional and demanded that Kurdish authorities hand over their crude oil supplies.

Today, a delegation of the regional government is expected to meet with senior Iraqi officials in Baghdad.