ShaMaran Petroleum Corp (SHASF)

[Kinematik]

More deals with Turkey, pipelines and payments


http://mobile.reuters.com/article/idUSBRE9A50HR20131106?irpc=932

The new pipeline will have a capacity of at least 1 million bpd of crude oil, KRG natural resources minister Ashti Hawrami said in Istanbul last week.

The exports will be metered independently, he said, inviting all parties including Baghdad to send auditors to observe the process.

Revenues will be paid into KRG accounts, a source familiar with the plans said. Hawrami has repeated the KRG's readiness to send 83 percent of the income to Baghdad after deducting the autonomous region's share. Baghdad views such plans as illegal.

"The KRG says this oil belongs to all Iraq and they are happy to share it.

There is also a bit of a hope that the reality on the ground will force Baghdad to make a deal on this," the source said.