Hermes
06-11-2008, 03:29 AM
ERBIL, Iraq, June 10 (UPI) -- Iraq's Kurdish region has been collecting millions of dollars in signing bonuses for 19 oil deals inked with international oil companies but is waiting for a federal revenue-sharing law before turning it over to Baghdad.
The signing bonuses vary from between $1 million and $5 million "to sometimes more than that," said Kurdistan Regional Government Minister of Natural Resources Ashti Hawrami (http://www.upi.com/topic/Ashti_Hawrami/), though he wouldn't give details "until we publish the information."
"It will be published probably within a month or two. We're currently working on compiling all of our agreements, and then we will just put all the information on the KRG Web site," he told United Press International at his office in the KRG capital. He said the funds are being held in an account "in Erbil."
"The signing bonuses are part of the oil revenue, and they should be accounted for as such. That money hasn't been touched by the regional government. It's basically accounted for to be deposited when we have an agreed revenue sharing law."
Read more: http://www.upi.com/Energy_Resources/2008/06/10/Iraqi_Kurd_oil_sales_signing_bonus_waiting_for_Bag hdad/UPI-36721213134840/
The signing bonuses vary from between $1 million and $5 million "to sometimes more than that," said Kurdistan Regional Government Minister of Natural Resources Ashti Hawrami (http://www.upi.com/topic/Ashti_Hawrami/), though he wouldn't give details "until we publish the information."
"It will be published probably within a month or two. We're currently working on compiling all of our agreements, and then we will just put all the information on the KRG Web site," he told United Press International at his office in the KRG capital. He said the funds are being held in an account "in Erbil."
"The signing bonuses are part of the oil revenue, and they should be accounted for as such. That money hasn't been touched by the regional government. It's basically accounted for to be deposited when we have an agreed revenue sharing law."
Read more: http://www.upi.com/Energy_Resources/2008/06/10/Iraqi_Kurd_oil_sales_signing_bonus_waiting_for_Bag hdad/UPI-36721213134840/