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Oil expert: Licenses rounds aim to increase gas production and explore other fields
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The oil expert, Hamza al-Jawahri, said Tuesday that the aim of licensing rounds is to increase the search for gas and production in the gas fields located in the areas adjacent to Iran, and pledged to approve the law of the National Oil Company as it faced constitutional objections.
Al-Jawahiri said in an interview with "Economy News" that the latest licensing rounds are aimed at increasing the search for gas in the gas fields located in border areas with Iran, as well as the possibility of signing contracts "unification" in case the field extends between Iraq and Iran.
On April 14, the Ministry of Oil announced the extension of the tender period for international companies eligible for the licensing round for the development of 11 border explorations to 25 of the same month.
He added that the licensing rounds in the southern fields do not lead to an increase in oil production in the near term as it takes about 10 years between exploring new fields and rehabilitation of old ones, pointing out that Iraq's oil production could rise from the fields north of which remains "relative rise "Does not affect the world oil prices.
He pointed out that the lack of possession of Iraq's production and export capacity and possession of them is very important for any oil country, stressing the need to raise the Iraqi oil reserves in anticipation of any emergency as a global supply.
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