The Association of the Petroleum Industry of Kurdistan (APIKUR) declared on Monday its member companies stand ready to immediately resume regional oil exports through the Iraq-Turkey pipeline, pending a written agreement between the federal and regional governments that guarantees payment mechanisms and honors existing contracts.

Key Conditions for Resumption
In a statement following Saturday's high-level meeting with both governments, APIKUR spokesperson Myles Caggins emphasized: "Our members can restart exports the moment we have a binding written agreement that respects Production Sharing Contracts." The association stressed this must include clear terms for:

• Crude delivery methods (via federal SOMO or regional marketers)

• Protection of international operators' legal rights

• Transparent revenue-sharing mechanisms

Breakthrough in Chronic Dispute
The announcement comes as Baghdad and Erbil exchanged two draft agreements addressing:

1. Oil Revenue Division

   • Kurdistan's proposal: Export 217,000 bpd (after deducting 65,000 bpd for local refining)

   • Federal demand: Full 282,000 bpd production with 236,000 bpd to SOMO

   • Compromise: 50% of non-oil revenues (minimum $152.6M/month) to federal coffers

2. Public Salary Crisis

   • Erbil seeks exceptional June-July payments citing federal court rulings

   • Baghdad proposes 90-day payroll localization process with joint committees

   • Current situation: 80-day unpaid salaries causing economic paralysis

Market Implications
The stalled exports have:

• Deprived global markets of 450,000 bpd since March 2023

• Cost Kurdistan over $4B in lost revenues

• Led to 32% contraction in regional GDP