Baghdad: Iraqi Oil Minister Hayan Abdul-Ghani announced on Wednesday that crude oil exports through the Turkish port of Ceyhan will resume today or tomorrow, following an agreement with the Kurdistan Regional Government (KRG).

According to National Iraqi News Agency, Abdul-Ghani stated in a press conference held at the Jambour oil field in Kirkuk that an agreement has been reached with the KRG to receive and export the produced oil. He specified that fifty thousand barrels per day will be allocated for local consumption to operate refineries in the region, while 80,000 barrels per day will initially be exported via Ceyhan.

He noted that the North Oil Company successfully restarted the wet oil processing unit, enabling the treatment of more than 25,000 barrels of wet crude oil that was previously out of production. This move has made additional oil available for export, along with the utilization of the associated gas.

The minister explained that the KRG’s current production stands at around 130,000 barrels per day. An agreement was reached with the KRG’s Ministry of Natural Resources to receive 80,000 barrels per day, which will be collected in storage tanks before being gradually pumped through the export pipeline to Ceyhan.

Abdul-Ghani added that while the initial target is to export 230,000 barrels per day, the ministry is keen to restart exports quickly using available quantities from various oil fields.

He also pointed out that some fields have been targeted by attacks, resulting in reduced production, and that several companies have suspended operations due to security concerns. However, he expressed hope that resuming exports will encourage these companies to return and resume production activities.

Regarding the oil agreement with Turkey, the minister clarified that either party has the right to terminate the agreement with a one-year notice. The current agreement remains valid until July 2026, during which a new agreement will be negotiated to continue and enhance bilateral cooperation.