The Association of Petroleum International Kurdistan (APIKUR) emphasizes its commitment to finding solutions that benefit all parties involved.

APIKUR addressed the Finance Committee of the Iraqi Parliament’s suggestions to shift from production-sharing contracts to profit-sharing agreements in its official statement shared on (X).

"As we have stated many times, APIKUR member companies seek mutually beneficial solutions and prompt action from the Government of Iraq officials, who have publicly stated that reopening the Iraq-Turkey Pipeline is a priority. Where are the formal proposals from the Iraqi federal government?" the APIKUR statement read.

Earlier this month, APIKUR urged for the immediate reopening of the Iraq-Turkey Pipeline, noting that since oil exports from the Kurdistan Region to Turkey were halted in March 2023, the region has lost approximately $20 billion.

"Every day of delay hurts Iraq’s economy. We’re ready to work with all parties to make this happen soon," APIKUR added.

Established in 2023, APIKUR currently comprises eight members—international upstream oil and gas companies with a direct or indirect interest in one or more upstream oil or gas contracts in the Kurdistan Region.

As discussions continue, APIKUR remains hopeful for a swift resolution that supports the economic interests of both the Kurdistan Region and the broader Iraqi economy.