Bloomberg reports that DNO International ASA, the Norwegian Oil company with operations in Iraqi Kurdistan, regards the formation of a new government in Iraq as an “important milestone” in paving the way for the resumption of oil exports from the Kurdish region.
“Getting a government in place is a necessary step for this process to move on,” Chief Executive Officer Helge Eide said in an interview in Oslo. “If this happens, it’s a very positive development, and we hope things can now be resolved.”
The new coalition will have to resolve a dispute over the passage of a law governing the use of Iraq’s oil and gas reserves. The semi- autonomous Kurdish region in northern Iraq suspended oil exports last year following a row over payments to foreign companies, including Oslo-based DNO.
“If we’re able to get a viable government in place I believe everyone, including the Kurds, will have the issues that are important to them heard,” Eide said. “And we know what position they’ve taken with regards to oil exports.”