Foreign oil firms set three conditions to resume Kurdistan output, economist says

BAGHDAD, Iraq — Foreign oil companies operating in the Kurdistan Region have presented three conditions for restarting production and exports, economist Nebil al-Marsoumi said. The companies are demanding stronger security protection for oil fields and wells against drone and missile attacks, guarantees for the safety of foreign engineers and technical personnel, and a transparent financial mechanism to ensure regular payment of outstanding receivables once exports resume. The proposed mechanism would need to be aligned with amendments to the federal budget law, according to al-Marsoumi. Companies have also called for accumulated debts to be paid according to a set timetable. Norway-based DNO had previously announced it was fully halting production and exports until the dispute over delayed payments is resolved. Al-Marsoumi said the companies' conditions highlight the need for an agreement between the federal government and the Kurdistan Regional Government to end the prolonged halt in oil exports from the region. He did not specify which other foreign companies are involved or how negotiations are proceeding.