Kurdistan Oil Fields Restart as Tripartite Export Deal Renewed

Oil production is ramping up at several fields in Iraqi Kurdistan after Baghdad, Erbil, and international oil companies extended a tripartite agreement governing crude exports.

The new deal was signed in mid-August and extends through January 2027, according to two officials with direct knowledge of the agreement.

Multiple industry officials said some fields in Iraqi Kurdistan had been offline because the prior agreement lapsed in late July, leaving producers without legal guarantees they would be paid for exported crude.

Gulf Keystone Petroleum's Shaikan production facility has reportedly restarted oil production following the renewal of the agreement.