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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The Minister of Oil confirms the acceleration of the final contracting procedures in the contracts o

    rocky
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    The Minister of Oil confirms the acceleration of the final contracting procedures in the contracts o Empty The Minister of Oil confirms the acceleration of the final contracting procedures in the contracts o

    Post by rocky Wed Feb 08, 2023 7:59 am

    [size=45][size=41]The Minister of Oil confirms the acceleration of the final contracting procedures in the contracts of the fifth licensing round[/size]
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    Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani revealed the exploration blocks and the winning companies in the fifth licensing round.
    And a statement by the Ministry of Oil, which was received by (Al-Oula News), stated that “the Council of Ministers approved, in its session held yesterday, Tuesday, the recommendation of the Ministerial Council for Energy (23015-d for the year 2023), which stipulates that “proceed with the signing of the licensing round contracts for the patches and border fields (the fifth round). completely and activate it, since a very long time has passed since its referral.”
    The Minister of Oil affirmed, “Proceeding with the final signing procedures for the fifth licensing round contracts for exploratory patches and border fields, and expediting the activation of contracts in order for the winning companies to start developing border patches.”
    Abdul Ghani said, “He directed the Department of Petroleum Contracts and Licensing and the concerned authorities in the Ministry to expedite the completion of the required procedures in coordination with the winning companies in the fifth licensing round, after the procedures were suspended due to circumstances outside the Ministry’s will, as they were announced in 2017 and in late April of 2018 the round was conducted.” Which resulted in the referral of (6) exploratory plots for development by the winning companies in the round, and those patches included (exploration, development and production of the exploratory patch, Khana Oil in Diyala Governorate, and it was referred to the Chinese company (Geo Jade) and the development and production of the Huwayzah oil field in Basra Governorate, and it was It was referred to the Chinese company (Geo Jade) as well, and the development and production of the Sinbad oil field in Basra Governorate, and it was referred to the Chinese (UAG) company, and the development and production of the Kalabat-Qamar fields in Diyala Governorate, and it was referred to the Emirati company (Crescent Oil), development and production Al-Khashm Al-Ahmar fields - Anjana in Diyala Governorate, and it was referred to the (oilAl-Hilal) of the Emirates, and the exploration, development and production of the exploratory patch, Khidr Al-Maa in Basra Governorate, and it was referred to the Emirati (Crescent Petroleum) company as well.
    For his part, the official spokesman for the ministry, Assem Jihad, explained that “contracts were signed in initial letters with the winning companies and then referred to the Council of Ministers / Energy Affairs Committee for the purpose of approval and ratification in the second week of June 2018,” adding that “the Ministerial Council for Energy issued a decision No. (8) for the year 2020 included the recommendation to present the fifth licensing round to the Council of Ministers, after the observations of the Federal Office of Financial Supervision have been fulfilled.
    He pointed out, "The Council of Ministers issued its Resolution No. (21) for the year 2020, which includes approving Recommendation No. (4) from the Ministerial Council for Energy Resolution (8 for the year 2020) regarding the approval of contracts for the round of fields and border patches (the fifth round)."
    And Jihad added, “The expected daily production rates from the round contracts amount to (1000) million standard cubic feet per day of associated gas, in addition to quantities of crude oil of about (175) thousand barrels per day, which will contribute to the processing of electric power stations with a percentage of ( 25% of the gas needs of the Ministry of Electricity, according to the statement.
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