World Bulletin/News Desk
The agreement reached between Baghdad and Erbil on Friday is a guarantee of stability for the two governments, said Taner Yildiz, Turkey's Energy Minister at a press conference Friday in Kocaeli province of Turkey.
"Stabilization in the country means stabilization for the region, therefore, this is pleasing news," said Yildiz.
Turkey exported 25 million barrels of northern Iraqi oil, which corresponds to revenue of over $2 billion, Yildiz underlined.
"This revenue is for the people of Iraq. This situation shows that Turkey's foresight and strategies are right to the point and it is a contribution to the region as well," he said.
Iraq and the Kurdish Regional Government came to an agreement to resolve the dispute over oil exports from the northern Iraqi region on Thursday.
"We have agreed to resolve the dispute with our Kurdish friends and re-establish trust in a fair and lawful way," Adil Abdul-Mahdi, Iraqi oil minister, said in a statement, released on the oil ministry's website. "The dispute had not only affected economic, security and political events, but also started to affect national unity," he added.
In accordance with the said agreement, the Iraqi government will pay the Kurdish Regional Government, or KRG, $500 million as a start and in exchange Erbil has agreed to put 150,000 barrels of crude oil per day at the disposal of Iraq’s federal government.
Yildiz also answered the questions whether the Barbaros Hayrettin Pasa seismic vessel would continue its natural gas explorations in the east- Mediterranean region, Yildiz said, "Our vessel is exploring and this exploration is for the whole region. We do not approve that the issue has turned into a crisis."
Greek Cypriot Leader Nicos Anastasiades suspended peace talks with Turkish Cyprus two weeks ago over the divided island after Turkey sent its gas exploration seismic vessel to waters off Cyprus.
Turkey and the Turkish Cypriot government have strongly opposed any unilateral move by the Greek Cypriot administration to explore any hydrocarbon resources around the island, saying that its natural resources should be exploited in a fair manner under a united Cyprus.
392 convicts were handed aggravated life sentences since the July 2016 defeated coup
Main opposition CHP Deputy Chair Ozturk Yilmaz says he will be candidate if CHP leader does not become presidential nominee
Lavrov slams comments by US state department aide on Turkish-Russian missile deal as 'blackmail'
Turkish President says it is 'beyond football terrorism' on incidents at Thursday's derby between Fenerbahce and Besiktas
Foreign Ministry criticizes Greek court's decision to release coup plotter and ex-Turkish soldier Suleyman Ozkaynakci
Deputy Premier Recep Akdag meets Turkish Republic of Northern Cyprus Minister of Economy and Energy Ozdil Nami in Ankara
AK Party deputy chairman briefs journalists on upcoming Turkish elections
Parliament's general assembly is expected to debate the bill on Friday
Number of security staff are accused of political spying in 2014 when Recep Tayyip Erdogan was prime minister
After parliament decides on election bill, it will be published in official gazette without being approved by president
Turkish deputy prime minister says plans for early elections avert uncertainty
Soldier killed when explosive device went off during security search in Afrin
Nearly 10,000 Syrians have returned home in 2018 through Cilvegozu border gate in southern Hatay province
Recep Tayyip Erdogan, Xi Jinping exchange views on latest developments in war-torn country