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Experts are calling for the {settlement} of oil and gas contracts
The first 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, to provide job opportunities for the Iraqi workforce specialized in the field of oil and gas, and to absorb these energies in foreign investment companies operating because they represent an important and large segment, and the experts indicated that they hope to implement the "sixth" licensing round that it announced The government, which included (for the first time) imposing a condition on the investing companies to employ a large percentage of the specialized Iraqi workforce.
And the economist, Sabah Alou, told Al-Sabah that “the (sixth licensing round) was different from the (fifth round) and before it, since from 2008 until 2022 the previous licensing rounds did not include any participation rate from the Iraqi workforce,” noting that "Forms of contracts were implemented by foreign companies that used to bring their workers and technicians from abroad, or seek the assistance of a rate of no more than 10 percent of Iraqis."
He added, "According to the recent statements 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 percent of the Iraqi workforce, and it may reach 80 percent, meaning there will be an absorption of unemployment and the employment of specialists." In the field of oil or gas work," he explained, "the investment contracts set the list of profits through the method of parity with companies at a rate of 50 percent, and the remaining 50 percent will be paid by the investing companies through taxes that are approximately 40 percent of the profits and other things, which is a good thing for the benefit of the government and the Iraqi 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.
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