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Kurdistan Prime Minister Nechirvan Barzani signs
historic oil agreements with South Korea
26.9.2008
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September 26, 2008
Seoul, Korea, — Kurdistan Regional Government
Prime Minister Nechirvan Barzani Thursday signed a
series of ground-breaking agreements with the Korean
National Oil Company (KNOC). These finalise a set of
earlier preliminary agreements under which KNOC will
be granted rights to explore and drill on several
sites in the Kurdistan Region in exchange for
valuable support on a range of infrastructure
projects.
Prime Minister Barzani said, "This is an exceptional
agreement which serves the needs of the people of
the Kurdistan Region in the areas of power,www.ekurd.net
sewage and water
treatment and other infrastructure elements. We are
finding ways to put our valuable natural resources
directly to work for the good of the people, and
this is the strongest obligation of our government."
Under the agreement's initial stage, KNOC will
support power plant construction and sewage and
water treatment facilities worth 600 million US
dollars. In later stages, once certain conditions
are met, the value of the projects will increase by
another 1.5 billion dollars.
Speaking on the overall oil and gas situation in
Iraq, the Prime Minister said, "This agreement is a
perfect example of what the rest of Iraq should be
doing. We are trying to address the needs of our
people,www.ekurd.net
and the federal
government in Baghdad should be doing the same
thing. Oil is a gift to all the peoples of Iraq, not
just its leadership, and it is time to begin putting
this gift to work for all the people of the country. |
Photo: KRG |
Prime Minister Barzani
added, "I again call on the federal government in
Baghdad to move ahead rapidly in completing, as
required in the Constitution, the previously drafted
oil law which provides for equity, fairness,
transparency, and a modern approach to development
of our national resources.
"We are grateful to our Korean friends for their
support and friendship, and for working with us to
fashion an agreement which meets the needs of all
involved. We look forward to implementing this
agreement, and to deepening the friendship and
economic cooperation which has developed between the
people of the Kurdistan Region and Korea."
Copyright, respective author or news agency, krg
org
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