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[rtl]Editorial date: 2019/3/29 22:50 • 471 times read[/rtl]
The oil licensing rounds in the country have achieved "great achievements in raising the capacity of production of crude oil to unprecedented numbers," a senior official in the Iraqi oil sector said on Friday evening.
He said Abdul-Mahdi al-Amidi, Director General of the Department of Oil Contracts and Licenses in the Iraqi Ministry of Oil in a lecture today that the contracts of licensing rounds concluded with giant companies "recorded a turning point" in the field of the oil industry in the country to develop oil fields, notably Rumaila and Zubair and crazy and Western Qurna I and II, .
He explained that Iraq produced from all the fields of licensing rounds managed by foreign companies for the period 2010-2018 more than 8 billion and 500 million barrels of crude oil, and achieved financial returns exceeded 571 billion and 400 million dollars.
Al-Ameedi pointed out that the net profits of foreign companies operating in licensing rounds amounted to about 7 billion dollars for the period 2010-2018.
Al-Amidi said that the General Authority for Iraqi taxes achieved for the same period financial profits exceeded 2.5 billion dollars, while the cost of production of a barrel of Iraqi crude oil capital and operating and wages profitability of 9 dollars and 5 cents, while the cost of production will continue to fall below this rate annually.
He said that Iraq has a large project in cooperation with one of the international oil companies, called the "Integrated South Project to develop the fields of Ben Omar and Artawi, and build a project of seawater to address the oil fields, and expand the export capacity of crude oil to more than 6 million barrels per day
He added that Iraq" Is currently in contact with Kuwait and Iran, to resolve the issue of oil fields of the border joint, and that negotiations with Kuwait has made significant progress in the contacts with Iran did not register any formula of agreement.
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$ 571.4 billion in licensing revenues in 8 years
[/rtl][rtl]Editorial date: 2019/3/29 22:50 • 471 times read[/rtl]
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[rtl]The oil licensing rounds in the country have achieved "great achievements in raising the capacity of production of crude oil to unprecedented numbers," a senior official in the Iraqi oil sector said on Friday evening.
He said Abdul-Mahdi al-Amidi, Director General of the Department of Oil Contracts and Licenses in the Iraqi Ministry of Oil in a lecture today that the contracts of licensing rounds concluded with giant companies "recorded a turning point" in the field of the oil industry in the country to develop oil fields, notably Rumaila and Zubair and crazy and Western Qurna I and II, .
He explained that Iraq produced from all the fields of licensing rounds managed by foreign companies for the period 2010-2018 more than 8 billion and 500 million barrels of crude oil, and achieved financial returns exceeded 571 billion and 400 million dollars.
Al-Ameedi pointed out that the net profits of foreign companies operating in licensing rounds amounted to about 7 billion dollars for the period 2010-2018.
Al-Amidi said that the General Authority for Iraqi taxes achieved for the same period financial profits exceeded 2.5 billion dollars, while the cost of production of a barrel of Iraqi crude oil capital and operating and wages profitability of 9 dollars and 5 cents, while the cost of production will continue to fall below this rate annually.
He said that Iraq has a large project in cooperation with one of the international oil companies, called the "Integrated South Project to develop the fields of Ben Omar and Artawi, and build a project of seawater to address the oil fields, and expand the export capacity of crude oil to more than 6 million barrels per day
He added that Iraq" Is currently in contact with Kuwait and Iran, to resolve the issue of oil fields of the border joint, and that negotiations with Kuwait has made significant progress in the contacts with Iran did not register any formula of agreement.
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