The Association of the Petroleum Industry of Kurdistan (APIKUR) announced on Saturday that its member companies are ready to resume exports.

“APIKUR member companies reiterate that they are prepared to resume exports, contingent upon reaching agreements that provide for payment surety for past and future exports, direct payment, and preservation of commercial terms. Should such agreements require modifications to existing contracts, APIKUR member companies are willing to consider this if agreed between the GOI, KRG, and individual IOCs,” the statement read.

APIKUR members believe tripartite discussions between the Government of Iraq (GoI), Kurdistan Regional Government (KRG), and International Oil Companies (IOCs) are necessary to find a mutually beneficial solution, per the statement.

APIKUR is dedicated to promoting the Kurdistan Region as an attractive destination for international oil and gas companies, service providers, and investors. The association aims to advocate for its members' common interests, serve as a unified voice for relevant stakeholders, and provide a forum for sharing industry information and best practices.

Due to political and legal disputes over the legitimacy of independent oil sales by the KRG, followed by a ruling by the Paris-based International Chamber of Commerce (ICC) in favor of Iraq, exports in the Region have been halted since March 2023. However, preparations have been made, and the remaining issues to resume exports are technical in nature.