In a press conference that included a number of Iraqi governors in Baghdad, Oil Minister Adel Abdul Mahdi said that the agreement signed between Iraq and Erbil guarantees that the oil production will double in Iraq, thus Kirkuk may produce oil again.

He added that the Iraq is awaiting the visit of Kurdistan Regional Government (KRG) Prime Minister Nechirvan Barzani in order to complete the talks over oil issues, thus resolving all conflicts.

Oil production has exceeded three million barrels per day (bpd), the Minister said, adding that the plunge in the international oil prices affected Iraq’s oil market.

Worth noting, the disputes between both sides over the management of oil resources lasted for years. Earlier this year, Baghdad cut Kurdistan’s share of the state budget, including salaries of the region’s employees.

Iraq sees that it has the sole right to sign contracts and export oil abroad. Thereby, it threatened to sue international companies that import oil from Kurdistan.

On the other hand, the province of Kurdistan confirms that the country’s laws allow it to manage the oil fields on its land. The province has signed contracts with major oil companies over the past years.