Oil: There are no new rounds of national licenses and leading investment companies

Oil: There are no new rounds of national licenses and leading investment companies




BAGHDAD - The Journal News , a
spokesman for the Oil Ministry , Assem Jihad , said in a statement to the Journal News "that the ministry did not announce yet to come licensing rounds and Basra oil company , has bought a stake in Aoxn Mobil US company operating in the oil field, noting that the oil investment process needs to large sums of money buying Basra oil Company 's share Aksdntal company is a profitable investment by the company. "

Jihad said, "The Oil Ministry is working on the requirement to deal with international oil companies sober, which has the potential to develop oil fields and the development of national companies in order to support national companies and cooperation with international companies because they have the experience and technological development and with the blending experience with the Iraqi oil sector, we have the possibility to lead the sector oil without the need for any oil companies, only have a side development through its expertise. "

He said OPEC's decision to reduce oil production had a good Mrdorat has raised the price of oil to nearly the $ 50, noting that Iraq is part of the global system for oil production in the OPEC group, and then the decision of the new reduction for a period of nine months to come will have a positive returns. "

For his part, he said oil expert Hamza jeweler in a special statement (the Journal), "The purchase of oil quotas by national companies from investing foreign companies have a major benefit is the development in the field of oil investment and the leadership of the oil sector, noting that this is due the usefulness of the proportion of the contract for Iraq after it was a 25% we have a ratio of 30 or 35%. "

He revealed "the law being prepared by the Council of Ministers by experts in the oil issue and this law was discussed two days ago regulates profits and contracts of Iraqi and foreign companies ratios and thus ensures that the injustice of the right of national companies, and is still the law in the discussion stage in the prime minister, to maintain the national sovereignty and benefit from the global expertise and regulate investments in the event of a work system compact and integrated. "

He added jeweler "There are no licensing rounds oil close because we have priorities to complete projects at work and the unfinished phase, which is estimated at more than 17 oil projects in the first licensing rounds, second, third and fourth decades and so far development processes have not completed until we tours new licenses."

He continued, "The oil fields of border with Iran and Kuwait have great importance in the event of the unification of fields in agreement with the second party there will be a third party to develop the field for both parties and then be the profits of new investment is added to the profits contained ratio, pointing out that the Ministry of Oil will not go new projects which not completed the previous development projects "

And between the jeweler "The oil reduction decision did not lead to the required results of the fact that there is still a surplus of oil and these amounts come from speculators who buy oil at a time when the deterioration of prices, and now is being discharged gradually and then dump the oil market, adding to the difficulty to predict rising world oil prices after attempts to oil producers to raise prices may be the beginning of the year 2018 raising the price of a barrel above $ sixty

For his part, head of the oil and gas in the Basra Governorate Council Ali Shaddad Knight to enter Basra Oil Company as a partner based within the coalition, the operator of the fields of Basra, the oil province of giant makes it one of the most prominent influential in shaping the oil policy of these fields, and is prominent in determining its strategy

Said Knight in a press statement that the purchase of the Basra oil company share company (Oksdntal US), amounting to 31.25% of the value of the service contract in the Zubair oil field is a major qualitative leap in the continued relationship between the investment of oil companies and government companies, and would strengthen the financial imports and human resources for the company

He said Knight ready local government in Basra province to buy shares of companies wishing to sell in the event of Basra oil company failed to buy them, drawing attention to the entry of the public oil sector as an essential partner in the licensing rounds contracts would minimize the damage resulting from these contracts, and benefit from the financial returns to support local and federal budgets
, said Chairman of the oil and energy Committee in the province of Dhi Qar Yahya Almusharfawi, said that the production of the province of oil has reached more than 180 thousand barrels per day

According Almusharfawi in a press statement that "the production of Dhi Qar oil province has reached more than 180 thousand barrels per day, noting that the province will see an increase in crude production next year, where production is expected to reach more than 350 thousand barrels per day after the development of the fields of Nasiriyah Gharraf petroleum

He called Almusharfawi, the Oil Ministry to develop the Rafidain field and oil field pouring in order to increase the number of oil fields in the province of up to four fields, which consequently leads to an increase of oil production in the province
and the oil ministry pledged earlier, with the support of all oil bitumen fields to increase production where, especially after its separation from the South oil company and the establishment of an oil company Dhi Qar.

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