SULAIMANI – Patriotic Union of Kurdistan (PUK) Co-President Lahur Sheikh Jangi says that gas field development "is the future" of the energy sector for the Kurdistan Region.
The cash-strapped Kurdistan Regional Government (KRG) almost exclusively depends on exports and non-oil incomes to fill its coffer to pay its public servants and do infrastructure projects.
The Kurdistan Regional Government (KRG) and the Government of Iraq have been in long-running negotiations regarding the amount of oil and half of non-oil incomes it should submit to the federal authority to receive its budget share in return.
“There is also significant room for cooperation with Baghdad on a range of energy and security issues, including the creation of a Kurdistan National Oil Company within the future framework of a prospective Iraqi National Oil Company,” Sheikh Jangi suggested during a wide-ranging
interview with Iraq Oil Report.
“KRG's first priority with Baghdad should be to reach an agreement over revenue sharing in the 2021 budget law,” Sheikh Jange was quoted as saying by the media outlet. “I believe a strategic fix for us is to reach a deal with Baghdad to create something new.”
The PUK leader also his party has nominated former Kurdistan Parliament lawmaker Ezzat Sabir for the vacant position of Iraqi deputy oil minister after the retirement of former deputy minister Motasam Akrm, as the nomination is awaiting on Iraqi Prime Minister Mustafa al-Kadhimi to approve it.
He also said that another PUK candidate has been approved for the KRG Natural Resources’ deputy minister.