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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 fifth licensing round, what it has and what it has

    Rocky
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    • Post n°1

    The fifth licensing round, what it has and what it has Empty The fifth licensing round, what it has and what it has

    Post by Rocky Sat 18 Feb 2023, 5:01 am

    The fifth licensing round, what it has and what it has

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    Dr.. Bilal Khalifa
    In the beginning, let's know what the contracts for the fifth licensing rounds are, with brief information:
    1 - Al-Huwaizah Oil and the type of contract is exploration, development and production service. And the field is an oil field. It is about 17 km long and 8 km wide. The first exploration well, Al-Huwaiza-1, was drilled in 1980, where the presence of oil in the Khasib and Nahr Omar formations was proven from tests and well log results. Well records also indicated the presence of oil in the Haritha, Saadi and Musharraf formations. The oil reserves in the Hawizeh field are estimated at about 2.4 billion barrels.
    2 - Khana Oil: It is an exploration, development and production service located in Diyala Governorate. The contract has been transferred to the Chinese company Geogad by 100%, meaning there is no government partner in the contract. And the field is an oil field. The field is located 40 km south of Khanaqin and about 145 km north-east of Baghdad. It is considered a joint field with Iran. It was discovered in 1919, and direct extraction began in 1924. 3- Sinbad Oil: It is
    exploration, development, and production service. It is located in Basra Governorate and has been referred to United Company. The UAE Energy Group owns 100%, meaning there is no government partner in the contract. The field is an oil field, and the oil reserves in the Sinbad field are estimated at about 2.15 billion barrels.
    4 - Kalabat Oil - Kamar: It is an exploration, development and production service located in Diyala Governorate. The contract has been transferred to the Emirati Crescent Company by 100%, meaning there is no government partner in the contract. And the field is a gas field.
    5 - Khader Al-May: It is an exploration, development and production service located in the Basra-Muthanna governorate. The contract has been transferred to the Emirates Crescent Company by 100%, meaning there is no government partner in the contract. And the field is an oil field. Khader Al-May field is located in the Basra Governorate on the Iraqi-Kuwaiti border
     6 - Injana - Khashm Al-Ahmar: It is an exploration, development and production service located in Diyala Governorate. 100% of it was transferred to the Emirati Crescent Company, meaning there is no government partner in the contract. And the field is a gas field. The oil reserves in the Khashm al-Ahmar field are estimated at 251 million barrels, while the natural gas reserves are estimated at 2.2 trillion standard cubic feet.
    Notes
    The contracts were signed in 2018 and the Council of Ministers ratified on January 23, 2020, approving contracts for the fifth licensing round related to the development of oil fields, border patches, and gas fields in Diyala Governorate, and on February 15, 2023, the Ministry of Oil announced, on Wednesday, that next week will witness the final signing ceremony. With the winning companies of the fifth border licensing round.
    Advantages of proceeding with these contracts
    1 - The fields in the fifth round are border, which means that the delay in not exploiting them is a loss because the other side is exploiting the field and extracting oil from it, and its maintenance is constantly decreasing, every day is a loss.
    2- Two of the six fields, which are Anjanah-Khashim Ahmar and the Kalabat-Kammar field, are gas fields, and Iraq is in great need of gas.
    3 - The world is moving towards new and clean energy, and estimates say that the use of oil will decrease after 2060, and therefore we need to exploit oil before its value decreases.
    4 - Iraq needs more revenues and its economy is rentier and depends on oil revenues, and therefore we need to exploit oil and gas more.
    Negatives of proceeding with the signing of contracts
    A- The statement of the current government in announcing the imminent celebration of the signing of contracts for the fifth licensing round is for the sake of gas, and it was the first to pay attention to the fields of the third licensing round, especially the Akkas gas field, whose production is greater than the two gas fields combined, instead of extending a pipeline Gas from Baghdad to Anbar to a gas station, and the loss is double.
    B - Four of the six fields, which are the border fields, are oil fields, and therefore their exploitation by investment companies must be accompanied by an export from the fields. Otherwise, Iraq pays the wages of profitability despite not exporting oil in the event that OPEC did not raise Iraq’s share, which is now around 4 million 4 One hundred thousand with the territory.
    C - Iraq signed licensing contracts in 2009, and now 14 years have passed since that, and it is supposed to have sufficient experience in managing the fields with the professionalism of foreign companies. Especially since the Ministry of Oil announced about a month ago the establishment of the Oil Services Company, and it was first to put in its first tasks the management and operation of those fields.
    D - The Emirati Crescent Company, which won three contracts, owns contracts in the region, which are contracts that violate the constitution and the opinion of the Federal Court, and as previously, the government decided not to deal with any company that has dealings or contracts with the region. As for the Chinese company (Geojiad), it is small and unknown.
    E - Contracting with companies of neighboring countries has some caveats, and in my opinion we should move away from those companies with international ones.
    Result: Going forward with contracts has its drawbacks and has its positives as well. Therefore, the best solution is the middle one by hastening to exploit and operate those border and gas fields for the reasons explained above, but not with foreign companies, but with national effort, while giving the operating authority for those fields wide powers such as those of foreign companies and liberating them from restrictions. Instructions and controls.

    Views 103
    Added 2023/02/18 - 10:32 AM
    Updated 2023/02/18 - 1:58 PM
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