Of the oil reveals the presence of a non-refundable amount in licensing rounds decades
Friday 12-08-2016 | 7:59:06
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Twilight News / announced Chairman of the Commission on oil and gas in the Basra Governorate Council Ali Shaddad Knight, the existence of a paragraph in the licensing rounds states oblige oil companies to allocate at least (5 decades) million dollars a year (amounts are non-refundable) earmarked for training and development purposes, rehabilitation and fellowships noting that this paragraph has been neglected over the past years and interpreted by the Ministry of oil as used to train and rehabilitate the oil sector employees only.
Said Knight in a statement responded to the Twilight News, "that paragraph (3) of Article (6) of licensing rounds states (the allocation of an amount of five million dollars for training and technology and fellowships) contracts for which payments are non-refundable, noting that" for the oil and gas committee seeking to obtain a decision of the provincial council is required to allocate the Ministry of oil (50%) of these funds for training and development and rehabilitation of young job seekers from the people of the province of Basra. "
He knight "The licensing rounds contracts provided for the allocation of the amount of $ 5 million dollars a year, recoveries of these companies by the Iraqi government and called petroleum Elv to establish service projects and social benefits to the people close to the oil fields in areas or affected by the oil exploration operations in addition to the the existence of other clause stating that the allocation of at least 5 million dollars a year and is non-refundable amounts spent by the licensing rounds, companies for the purposes of training, rehabilitation, development and fellowship. "
And licensing contracts is a service contract or contracts to sustain and develop oil and gas fields. It manages the operation of joint committees between the two parties, headed by the Iraqi party's majority owner. This committee decides to production and project implementation plans.
It is said that Iraq contracts signed with major international companies in the years 2009 and 2010 to develop oil fields in Basra and Maysan province in order to increase oil production, as these contracts received reservations and objections by some officials and specialists, especially with the drop in oil prices.