A breakthrough deal between Baghdad and Erbil should allow UAE companies with assets in Kurdistan to cash in.
Iraq's finance ministry, which collects revenues earned from Kurdish crude and is responsible for directing payments to Kurdistan, will dispense 1 trillion Iraqi dinars (Dh3.15 billion) to companies producing oil in the autonomous region, according to the terms of an agreement brokered last week.
The payments will be released in two parts, with US$650 million (Dh2.38bn) to be handed out this year and the rest in the next, said Ashti Hawrami, the Kurdish oil minister.
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