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[rtl]Release date: 2018/6/3 19:02 • 122 times read[/rtl]
Baghdad: The Ministry of Oil, on Sunday, three preliminary contracts with the company {Crescent Crescent} UAE to develop three oil exploratory sites, located on the borders of Iran and Kuwait.
During a tour in April, the company won the development of Kalabat-Kammer in Diyala province on Iran's border with a rate of 9.21 percent of production, and the Khashm Al-Ahmar-Anjana in Diyala also gained 19.99 percent .
The company itself won the contract to develop the area of "Khidr al-May" in the province of Basra and adjacent to Kuwait by 13.75 percent of production.
On the sidelines of the signing of contracts today, Oil Minister Jabbar al-Allaibi said that Iraq "began a new phase in the development of oil fields border, which contribute to the addition of new rates of oil and gas reserves of the country."
He explained that "what distinguishes these contracts is that it is located on the border with neighboring countries, which requires work to invest and benefit from the wealth, and prepared by the ministry as a priority because it is concerned with the interests of the Iraqi people. In addition, the current form of service contracts differ from previous contracts licensing rounds The former where some items have been modified, in terms of profitability and reduce costs and in the best interest of the country.
He added Allaibi, "The ministry will through these contracts to invest the optimal oil and gas resources, after being neglected for decades."
In turn, the Executive Director of Exploration and Production at Crescent Petroleum, Abdullah Al-Qadi, said that the production of exploratory patches will begin after signing the contract in three years.
Iraq is OPEC's second largest oil producer after Saudi Arabia, producing about 4.5 million bpd.
The Iraqi government has recently announced plans to increase the country's production capacity to 6.5 million bpd by 2022
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Oil contracts with an Emirati company to develop three border exploratory patches
[/rtl][rtl]Release date: 2018/6/3 19:02 • 122 times read[/rtl]
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[rtl]Baghdad: The Ministry of Oil, on Sunday, three preliminary contracts with the company {Crescent Crescent} UAE to develop three oil exploratory sites, located on the borders of Iran and Kuwait.
During a tour in April, the company won the development of Kalabat-Kammer in Diyala province on Iran's border with a rate of 9.21 percent of production, and the Khashm Al-Ahmar-Anjana in Diyala also gained 19.99 percent .
The company itself won the contract to develop the area of "Khidr al-May" in the province of Basra and adjacent to Kuwait by 13.75 percent of production.
On the sidelines of the signing of contracts today, Oil Minister Jabbar al-Allaibi said that Iraq "began a new phase in the development of oil fields border, which contribute to the addition of new rates of oil and gas reserves of the country."
He explained that "what distinguishes these contracts is that it is located on the border with neighboring countries, which requires work to invest and benefit from the wealth, and prepared by the ministry as a priority because it is concerned with the interests of the Iraqi people. In addition, the current form of service contracts differ from previous contracts licensing rounds The former where some items have been modified, in terms of profitability and reduce costs and in the best interest of the country.
He added Allaibi, "The ministry will through these contracts to invest the optimal oil and gas resources, after being neglected for decades."
In turn, the Executive Director of Exploration and Production at Crescent Petroleum, Abdullah Al-Qadi, said that the production of exploratory patches will begin after signing the contract in three years.
Iraq is OPEC's second largest oil producer after Saudi Arabia, producing about 4.5 million bpd.
The Iraqi government has recently announced plans to increase the country's production capacity to 6.5 million bpd by 2022
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