Turkey informs US that it wants a share of the Iraqi oil

Dec 28, 2002 01:00 AM

Turkey informed the US officially that it wants a share of the Iraqi oil at a rate of 10 %, noting that in case that Washington approves the said request, Ankara will get a $ 5.5 bn of the oil revenues annually.
Murad Murjan, the deputy chairman of the Turkish justice and development party, said that a group of academics had prepared a study to this effect and it was submitted officially to certain American officials.

Murjan indicated that the said study is based on Luzanne Treaty which Turkey had signed with Britain during the demarcation of the Turkish borders with Iraq in 1926. The Treaty states to offer Turkey a rate of 10 % of the Iraqi oil production.
Murjan added that Luzanne agreement has not only confined to offering Turkey the said 10 % rate but also states an obligatory item for Turkey to get a share of oil companies revenues and from oil transportation as well as a share from other oil by-products.

It is worthy mentioning that in the Luzanne agreement, which was signed in 1926 and according to which Turkey was afforded 10 % of the oil revenues in al-Mousel for 25 years, Turkey had given up its share for £ 500,000.

Source: Arabic News.com
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