Expert: Oil companies operating in Iraq will not be affected by political instability
Shafaq News/ Oil expert Hamza Al-Jawahiri confirmed on Monday that political instability will not affect the oil companies operating in Iraq, while "Total" company postponed the implementation of its projects until the formation of the new government.
Al-Jawahiri told Shafaq News Agency, "The political instability in Iraq is not new, and the crisis it is currently going through is an emergency, it may be for a maximum of one or two months and ends and therefore does not affect the position of companies because the latter is isolated from people and has its own protection and also has protection from the state.
He pointed out, "People also know that what they earn from their livelihood that they get daily comes from oil revenues, and therefore they do not enter oil issues into politics, and companies also know this, and we have not heard on any day that these companies were harmed or anyone was exposed. Its members were harmed because of it.”
And the oil expert indicated that "Total's delay in implementing its four projects in Iraq is due to the failure to form a new government to sign contracts permanently, which the company previously signed with the Ministry of Oil."
He continued, "As the current government is a caretaker government that does not have the authority to sign such contracts, and these international companies protect themselves from any emergency that may occur later, and that these contracts must go to Parliament for approval, and that the latter is not stable so far, and his situation does not allow to discuss Things like this now."
Iraq had signed a preliminary agreement with Total to implement four giant projects worth 27 billion in southern Iraq, and the signed contracts constitute integrated groups for the production of oil, gas, renewable energy and sea water to increase the production capacity of the crude oil fields in the south of the country.
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