Iraq went black at a loss .. Who compensates for the withdrawal of Exxon Mobil?

[size=52]Iraq went black at a loss .. Who compensates for the withdrawal of Exxon Mobil?[/size]

[size=45]After the American company ExxonMobil demanded to get out of the West Qurna 1 oil field, it made the Ministry of Oil in an unenviable position after the demands of the major international companies one after the other to exit the investment of the oil fields that Iraq relies on to achieve the sustainable development of the country, to find the Ministry of Oil itself confused between Replacing Mobil with another American company that has experience in the field of oil investment, or granting the field investment to one of its local companies.[/size]
[size=45]ExxonMobil announced its plans to abandon West Qurna 1 field last April, after it informed Iraq 3 months ago of its plan to sell its 32.7% operating stake to its partner China National Oil Company, which owns 32.7% - and the Chinese company CNOOC.[/size]
[size=45]The other partners in the field are Japan's Itochu (19.6%), Indonesia's Pertamina (10%) and the Iraqi State Oil Exploration Company (5%).[/size]
[size=45]But Iraq rejected the deal and wanted to replace ExxonMobil with another American company that has no less weight and weight than the American company that is seeking to exit the field.[/size]
[size=45]Western ethics[/size]
[size=45]Iraqi Oil Minister Ihsan Abdul-Jabbar stressed that "real investment that produces real value for the country, develops society and people and raises the level of work ethics is what Western companies do."[/size]
[size=45]He added, "Other companies are good at work, but they do not meet all these requirements," noting that "the ministry is trying to come up with the best companies capable of creating a social environment, good work and implementing projects at the cheapest prices and the highest return."[/size]
[size=45]Since then, the Ministry of Oil has sought to replace another American company with Exxon Mobil, for the Basra Oil Company to intervene on the line to demand the ministry to acquire Exxon Mobil's share in the field.[/size]
[size=45]Where the Basra Oil Company expressed its motives for acquiring ExxonMobil’s share, saying that the participation of the Basra Oil Company in the West Qurna 1 field will enhance the company’s profitability, and will reduce the presence of international oil companies.”[/size]
[size=45]The company cited its experience in the Zubair field and the operation of the Majnoon field with a capacity of 250,000 barrels per day, as evidence of the company's ability to replace ExxonMobil in the West Qurna 1 field.[/size]
[size=45]Mobil replacements[/size]
[size=45]While Iraq also wants to enter another American company to acquire the share of ExxonMobil, the American Halliburton to become an operator of exploration and production, as the latter has already participated in the discussions to acquire the share of ExxonMobil.[/size]
[size=45]Oil Minister Ihsan Abdul-Jabbar told a number of media outlets, on the sidelines of the Iraq International Book Fair, that "the ministry has two alternatives after ExxonMobil left the first field, which is for the Basra Oil Company to buy the share from ExxonMobil after it expressed its desire to do so and to enter it as a partner in financing The project was similar to its experience in the Zubair field, and initial approval was obtained and the Ministry’s decision to take possession was also submitted to the Council of Ministers for approval, and the second alternative is the presence of another American company (which is meant by the American company Halliburton) that wants to replace Exxon Mobil".[/size]
[size=45]east west balance[/size]
[size=45]For his part, the oil expert Hamza Al-Jawahiri said, “By granting and limiting the sale of Exxon Mobil’s share in the West Qurna/1 field to an American company, Iraq is trying to find a kind of balance between American and Western companies and between Chinese companies that acquire approximately 20 Participation in the Iraqi oil fields.[/size]
[size=45]Al-Jawahiri stressed that “the experience with Western and American companies in their work in investing in oil fields is considered a high-end performance and better technology, and it differs from the performance of Chinese companies and companies for East Asian countries, with the exception of Japan, which has a peculiarity from the rest of these countries,” noting that “countries such as China impose Sometimes there are conditions for him to bring laborers from his country for some services that do not require technical skill and at prices higher than local hands.”[/size]
[size=45]He pointed out that “the criterion for choosing American companies or choosing local companies to develop Iraqi oil fields is the economic factor, by measuring the operational costs of the field. Modern technology and creating high-end work values ​​and work systems.”[/size]
[size=45]The choice of an American company to develop the West Qurna field, the first phase after the exit of Exxon Mobil, depends on the extent to which the optimal investment climate is achieved for these companies.[/size]
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