Russian envoy to Erbil hopes for resumption of Kurdistan Region oil export
ERBIL (Kurdistan 24) – During an exclusive interview with Kurdistan 24, Russian Consul General Maxim Rubin said that Russian companies continue to operate in the Kurdistan Region in a limited capacity despite the oil export suspension.
The consul general revealed his enthusiasm upon learning that Iraq and Turkey are in the process of resuming oil exports.
Rubin also underlined that the Kurdistan Region and Russia enjoy a very strong relationship.
“Both Rosneft and Gazprom continue to operate despite the suspension of oil exports from the Kurdistan Region,” he noted, while hoping that oil exports resume soon, but “this depends on the outcome of negotiations between the Turkish and Iraqi governments.”
Gazprom is a Russian state-owned energy corporation that has been operating in the Kurdistan Region since 2006. It has invested in oil and gas exploration and extraction projects, as well as infrastructure.
Meanwhile, another Russian oil giant, Rosneft, has operated in the Kurdistan Region since 2008. The company signed a $3.8 billion deal to develop the Region’s oil fields. The deal stands as the second-largest foreign investment in the Region’s history.
The Kurdistan Regional Government (KRG), Turkey, and Iraq have participated in several rounds of negotiations to resume the export, whose loss is estimated to be nearly $6 billion.
Additional reporting by Kurdistan 24 reporter Azar Farooq