Oil announces the signing of the joint operating agreement to develop the Zubair field[/ltr]
[ltr][rtl]History[/rtl] of [rtl]edits:: 2016/9/29 19:44 • 87 visits readable[/rtl][/ltr]
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The Ministry of Oil on Thursday the joint operating contract to develop the Zubair field between the SoC and the two Italian ENI and Kocaz Korean agreement, after the withdrawal of the company [Aoxdntl] from the US coalition.
The head of the legal department Laith Shahir said in a statement issued by the Ministry of Oil received by all of Iraq [where] a copy of "The Oil Ministry and after negotiating with a consortium of operators has been agreed on the entry of the South Oil Company as a partner within the coalition, the operator of Zubair, after the withdrawal of the company [Aoxdntl ] American of the contract, which was signed today, "noting that" the coalition of the field operator companies will remain as company-specific ratios. "
"The work in the field since the start of 2010 to develop, where production was 180,000 barrels a day and output is now reached 400,000 barrels per day, and this increase was the result of concerted efforts and constant work."
The statement continued that "the withdrawal of the US company was not limited to just the Zubair field in Iraq, but of all the projects sponsored by the company in the Middle East due to the global economic crisis and the decline in world oil prices."
For his part, the Deputy Director General of the South Oil Company Ahmad Fadel said, "Our company is entering into a coalition of the operator of the field, the president is an important step, a new experience for Iraqi companies have opened up new avenues in this area."
"The Southern Oil Company entered into a substitute for the company Aoxdntl retreating and that was its share [29.95%] than a decade running Zubair oil field."
He noted that "the South Oil Company will participate in the decision-run field decisions in other words, that the Iraqi cadres will enter into a new competition with foreign partners to develop and invest in oil fields and expressed his hope to raise the production capacity of the field to 450,000 barrels per day in 2017".
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