BAGHDAD, Nov. 7 (Xinhua) -- The Kurdish Regional Government (KRG) announced Wednesday that it has signed seven new petroleum contracts, in a defiant move against the Iraqi central government, said a statement from the regional government office.
Following the unanimous decision of the Regional Oil and Gas Council of the KRG at its third meeting, the KRG Minister of Natural Resources Dr. Ashti Hawrami announced Wednesday that sevennew production sharing contracts (PSCs) have been signed by the KRG, said the statement posted on its website.
The Prime Minister of the Kurdistan Region, Nechirvan Barzani, has contracted Sunday with foreign oil-companies the seven new PSCs on behalf of the Council, together with his minister of Natural Resources Dr. Ashti Hawrami, the statement added.
Hawrami was quoted as saying that "There has been great interest in Kurdistan's exploration acreage," adding that "We are pleased to be able to meet that demand."
Moreover, Hawrami said that its government aspires in signing those contracts to accomplish its goal of producing a million barreled of oil daily.
"This new level of exploration and production activity in the Kurdistan region will also galvanize investment interest for the rest of Iraq once a transparent, investor-friendly and unambiguously constitutional oil and gas law for Iraq is in place," he said.
Earlier, the Iraqi Prime Minister Nouri al-Maliki has demanded the KRG not to sign any oil-contract unless the new national oil-law is passed in Parliament.
Further more, Hussein al-Shahrstani, the Minister of Oil has said recently that any oil-contract signed before issuing the oil law by the Parliament would be "illegal."
However, the draft of the oil-law is stalled by the Iraqi parliament due to differences among political factions over the sharing of lucrative revenues from Iraq's oil-crude.
Following the unanimous decision of the Regional Oil and Gas Council of the KRG at its third meeting, the KRG Minister of Natural Resources Dr. Ashti Hawrami announced Wednesday that sevennew production sharing contracts (PSCs) have been signed by the KRG, said the statement posted on its website.
The Prime Minister of the Kurdistan Region, Nechirvan Barzani, has contracted Sunday with foreign oil-companies the seven new PSCs on behalf of the Council, together with his minister of Natural Resources Dr. Ashti Hawrami, the statement added.
Hawrami was quoted as saying that "There has been great interest in Kurdistan's exploration acreage," adding that "We are pleased to be able to meet that demand."
Moreover, Hawrami said that its government aspires in signing those contracts to accomplish its goal of producing a million barreled of oil daily.
"This new level of exploration and production activity in the Kurdistan region will also galvanize investment interest for the rest of Iraq once a transparent, investor-friendly and unambiguously constitutional oil and gas law for Iraq is in place," he said.
Earlier, the Iraqi Prime Minister Nouri al-Maliki has demanded the KRG not to sign any oil-contract unless the new national oil-law is passed in Parliament.
Further more, Hussein al-Shahrstani, the Minister of Oil has said recently that any oil-contract signed before issuing the oil law by the Parliament would be "illegal."
However, the draft of the oil-law is stalled by the Iraqi parliament due to differences among political factions over the sharing of lucrative revenues from Iraq's oil-crude.
