(Bloomberg) -- Iraqi Prime Minister Mohammed Shia Al-Sudani said that country is studying a change to its federal budget that would enable Baghdad to pay international oil companies working in Kurdistan, which would eventually result in the resumption of exports through a key pipeline to Turkey after a months-long halt. 

Al-Sudani said the article in the federal budget, which was approved by parliament, would require the government to pay an average of $8 per barrel as a recovery cost for oil produced in Iraq outside of Kurdistan. The recovery cost in Kurdistan stands at $21 barrel. 

“We are discussing the draft amendment of the relevant article along with the parliamentary financial committee,” Al-Sudani said during an interview on a talk show broadcast on Rudaw channel.

Read More: Iraq, Kurdistan Continue Talks to Resume Oil Exports Via Turkey

The pipeline’s shutdown has already resulted in billions of dollars of lost revenue for the governments and companies operating in the region. Al-Sudani said his country is losing revenue from about 470,000 of exports every day. 

International oil companies “are waiting for the amendment to be done on this article in order to be able to pay for the production cost,” Al-Sudani said.

The region now is only producing between 80,000 and 90,000 barrels a day of crude for domestic refining, Al-Sudani added.

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