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Iraq calls for international oil companies to close operations management offices in Dubai
Saturday 05-11-2016 | 10:56:33
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Saturday 05-11-2016 | 10:56:33
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Twilight News / said three industry sources said Iraq demanded the closure of the international oil companies with a high cost in Dubai offices use to manage their operations in Iraq as a means to reduce their budgets.
It means this step, which was taken by some of the major oil companies that develop Iraq's giant oil fields in the south of the country that the companies will be forced to transfer hundreds of contractors inside and outside the country every few weeks and will lead to reduce the size of the regional centers for companies based in the United Arab Emirates near Iraq.
The Kuwait Energy Company of Kuwait has signed an agreement under which sells 20 percent of its stake in the gas field Alsaba Iraqi Egyptian General Authority for Petroleum.
The company said it sold the stake will be owned Egyptian General Authority for Petroleum transfer after obtaining the approval of the Iraqi side, and apply the right of first refusal (the right of a head start in the purchase of a partner).
In the case of obtaining these approvals Egyptian General Petroleum Corporation will become a partner of KEC for the second time in Iraq.
The two sides share since October of last year in the concession area 9 in Iraq and Kuwait Energy holds the operating business there.
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