The Kurdish regional government in northern Iraq has announced the start of crude oil flow to Turkey.
A statement by the Kurdish government’s Ministry of Natural Resources (MNR) said on Thursday the oil began to be exported via the Kurdistan region’s new pipeline to the port of Ceyhan in Turkey’s south.
Crude oil from Taq-Taq oil field and other producing fields will soon be added to the export system, the Ministry said.
- Exports expected to reach 10-12 million barrels by end of 2014
The MNR added that they invited representatives of State Oil Marketing Organization (SOMO) to join the process as observers.
"In order to ensure full transparency of the sales and contracting process, independent observers will be invited to each tender, together with representatives of the oil companies that have produced the exported oil," officials said in a press release.
Monthly exports are planned to start at two million barrels a month, and steadily increase to four million barrels by March and six million by April, eventually reaching 10-12 million barrels in December, 2014.