Russia to restart Kurdistan oil projects

Shafaq News/ Russian energy companies are set to restart oil projects soon in Iraqi Kurdistan after an agreement between the federal and Kurdistan Regional governments, Russia’s Energy Ministry revealed on Thursday.

The resolution of oil disputes will allow operations to resume, with Russian companies instructed to prepare a roadmap for the Al-Nasiriyah oil project in southern Iraq “in the near future,” Russia's TASS news agency quoted Energy Minister Sergei Tsivilev as saying.

“We rate high this project. We have already reached an agreement at the intergovernmental level [on it],” Tsivilev noted following the meeting of the Russian-Iraqi intergovernmental commission on trade-economic and scientific-technical cooperation. “Our company that plans to enter the project, regards it as one of the most important from the viewpoint of oil production.”

Recently, Iraq and Russia signed several memorandums of understanding (MoUs), strengthening cooperation across multiple sectors, including the oil sector.