[You must be registered and logged in to see this image.]
Shafaq News/ The Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani announced, on Wednesday, that next week will witness the final signing ceremony with the winning companies of the fifth border licensing round.
Abdul-Ghani said in a statement today, that the contracts include the development of (6) exploration fields and blocks, which are first: (exploration, development and production of the exploration block (Khana Oil) in Diyala Governorate, and it was referred to the Chinese company (Geo Jaid), second: development and production of the (Hawiza) field. ) oil field in Maysan Governorate, and it was also referred to the Chinese company (Geo Jade). Third: the development and production of the (Sinbad) oil field in Basra Governorate, and it was referred to the Chinese company (UIG). Fourth: the development and production of (Kalabat-Qamar) fields. In Diyala Governorate, and it was referred to the Emirati (Crescent Petroleum) Company, Fifth: Development and production of (Al-Khashm Al-Ahmar-Anjana) fields in Diyala Governorate, and it was referred to the Emirati (Crescent Petroleum) Company, Sixth: Exploration, development and production of the exploratory patch (Khidr Al-Ma In Basra Governorate, he was referred to the Emirati company (Crescent Petroleum).
He pointed to the importance of final signing and expediting the activation of contracts in order for the winning companies to start the work of developing border fields and exploratory patches, after the approval of the Council of Ministers, in its session held on February 7, 2023, on the recommendation of the Ministerial Council for Energy (23015 I for the year 2023), which stipulated “proceed with signing The contracts of the licensing round for the border blocks and fields (the fifth round) were finally signed and activated, since a very long period has passed since their assignment.
And the official spokesman for the Ministry of Oil, Assem Jihad, had stated on the eighth of February, that the expected daily production rates from the contracts of the fifth licensing round amount to (1000) million standard cubic feet per day of associated gas, in addition to quantities of crude oil of up to (175). One thousand barrels per day, which will contribute to supplying electric power stations with 25% of the gas needs of the Ministry of Electricity.
It is noteworthy that the fifth licensing round has faced many reactions raised by political parties and the media, which delayed its implementation for more than four years, leaving losses and severe damage to the oil industry and the Iraqi economy, according to officials in the Ministry of Oil.
The Ministry of Oil presented the details and objectives of the fifth licensing round to the judicial authorities, the Financial Supervision Bureau and the Integrity Commission, after what was raised against them, and they were reviewed, as the Ministry's procedures were validated.
[You must be registered and logged in to see this link.]