The eight international oil companies operating in Iraqi Kurdistan reached agreements in principle with Iraq’s federal and Kurdish regional governments to resume oil exports, according to an IOC statement seen by Reuters on Wednesday.
The agreed framework, once signed and implemented, will allow exports to restart “in the coming days”, the statement said.
Norway’s DNO, and its partner Genel Energy, are yet to sign the agreement, a source with direct knowledge of the matter told Reuters, while all other companies have already signed.
DNO and Genel Energy did not immediately respond to requests for comment.
The agreement would mark a breakthrough in the deadlock and allow 230,000 barrels of crude a day to flow through the Iraq-Turkey pipeline which has been suspended since March 2023.
(Reporting by Maha Eldahan, Additional reporting by Nerijus Adomaitis, Writing by Ahmed Elimam; Editing by Kirsten Donovan)