Turkey welcomed an agreement Tuesday between the Iraqi government and Kurdish authorities over oil revenues and budget.
The Iraqi council of ministers approved the deal between the government and the Kurdish Regional Government, according to an official statement on the Iraqi prime minister’s website.
“We believe the resolution is very important for the country’s security, the people’s prosperity,” said a statement from Turkish Foreign Ministry on Tuesday.
“We also see the agreement as a positive step towards the security of the international energy supply and Turkey’s cooperation with Iraq on energy,” the statement also said.
The deal was decided at a session in the presence of Iraqi Prime Minister Haider Al Abadi and Kurdish region Prime Minister Nechirvan Barzani.
The Kurdish Regional Government will provide at least 250,000 barrels of crude oil per day to the federal government for export purposes, according to the agreement that also stipulates that Iraqi oil belongs to all its citizens.
The term also allows for the export of 300,000 barrels per day by the federal government from the oil fields in Kirkuk through the oil pipeline in the Kurdish region.