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Experts call for {localizing} oil and gas contracts
Iraq 2023/06/25
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Baghdad: Muhannad Abdel Wahhab
Experts in the field of oil and energy called on the government to include future oil investments in providing job opportunities for the Iraqi workforce specialized in the field of oil and gas, and to absorb these energies in foreign investment companies working in the field of energy because they represent an important and large segment, and the experts indicated that they hope to implement the "sixth" licensing round Announced by the government, which included (for the first time) a condition for investing companies to employ a large percentage of the specialized Iraqi workforce.
And the economist, Sabah Alou, said in an interview with "Al-Sabah" that "the (sixth licensing) round differed from the (fifth round) and before it, since from 2008 until 2022 the licensing rounds did not include any participation rate from the Iraqi workforce," indicating That "the forms of contracts were implemented by foreign companies that used to bring their workers and technicians from abroad, or seek the assistance of a percentage not exceeding 10% of Iraqis."
He added, "According to statements recently made by the Minister of Oil, I find that those responsible for contract operations for oil and gas investment operations imposed a rate ranging between 50-60% of the Iraqi workforce, and it may reach 80%, that is, absorbing unemployment and employing specialists in the field of oil or gas work,” and explained that “investment contracts set the list of profits through the method of parity with companies by 50%
And the remaining 50% will be paid by the investing companies through taxes, which are approximately 40% of the profits, and so on, which is a good thing for the benefit of the Iraqi government and people.
Alo noted, "The previous years witnessed dumping operations through the graduation of the specialized oil cadre, but without any form of response, except for some simple percentages that do not cure the street's thirst for reducing unemployment, especially "technically manufactured unemployment" of engineers in the field of oil. Many professionals in the field of oil are graduates but have not taken job opportunities to serve their country.
He explained, "We hope that the government will be true to its promises regarding the implementation of the paragraphs of the (sixth round) of licensing, through its dealings with investment companies and employment of Iraqi manpower, which will reflect positively on absorbing unemployment, especially in the oil field."
The oil expert referred to the commencement of work in 11 gas exploration blocks in the western region, and stressed the necessity of speedy completion of investments in those blocks and areas announced by the Ministry of Oil, especially with the world's need for gas in the current and future international circumstances.
For his part, the economic expert, Qusai Safwan, said in his interview with "Al-Sabah" that "the Ministry of Oil seeks to increase exploration areas in Iraq, especially at the level of gas, and the presence of new geographical areas in the governorates of Nineveh, Anbar and Najaf, and preliminary expectations indicate that Iraq It has a reserve of (124 trillion cubic feet of gas), which is a new support for the Iraqi economy, by providing gas for domestic consumption and reducing its import.
He stressed that "these explorations are reflected in reducing unemployment and enhancing employment opportunities for the labor force, and it is possible that the desert areas provide job opportunities for the residents of the region and neighboring regions, and the process of the gas and petrochemical industry contributes to the process of absorbing unemployment," explaining that "the more we improve investment in the interior, the more The level of strategic industries, the more opportunities to attract investors.
Edited by: Muhammad Al-Ansari
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