Oct 3 2013
By Kifah Kareem
Azzaman, October 3, 2013
Iraqi Kurdish authorities are considering a plan to hand out hard cash donations of up to $1000 to each family in their autonomous region, said the prime minister of the Kurdish regional government, Nechervan al-Barzani.
Barzani said Kurdish oil and gas discoveries were on the rise and the development of the newly discovered fields was on its way to bring untold riches to the region.
The expected surge in income will make it possible for the regional government to hand out donations in hard cash to every single family living in the region, comprising the three northern provinces of Arbil, Sulaimaniya and Dahouk.
Scores of foreign firms are busy developing oil and gas fields in the region and Turkey is reported to have given the green light to foreign firms to construct pipelines linking Kurdish producing fields to its terminals on the Mediterranean.
The Kurds say their current output of nearly 200,000 barrels a day will shoot to one million barrels by 2015.
The Kurds have two routes to ship their oil to international markets.
They can either use the current twin pipeline owned by the central government in Baghdad or rely on the pipelines they are going to build to link their oil fields with export terminals in Turkey.
The Kurds currently receive 17% of the hard cash the government in Baghdad earns from oil exports estimated at about 2.5 million barrels a day.
But it is not clear whether they have solved their differences with Baghdad over who should control the royalties emanating from the export of oil produced in their region.
This post has already been read 503 times!