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Iraq's Kurdish Region Announces 7 New Oil Deals


The regional government in Iraq's Kurdish region has signed seven new foreign oil deals.

The Kurdish Regional Government said in a statement on its Web site Tuesday all revenues from petroleum activities in the Kurdish region will be shared proportionately throughout Iraq under Iraqi law.

The government in the Kurdish region of northern Iraq has approved its own law governing the oil industry, while the Iraqi national parliament is still working on a hydrocarbon law that would regulate the industry throughout the country.

Iraqi oil minister Hussein al-Shahristani had declared as "illegal" a previous agreement between the Kurdish regional government and a foreign oil company, Hunt Oil.

The Kurdish regional government said the new contracts are for the Mala Omar and Shorish Blocks, the Akre-Bijeel Block, the Shaikan Block, the Rovi and Sarta Blocks, and a block in Dihok province.

Some information for this report was provided by AFP.

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