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Bahr al-Ulum: $ 27 billion, the size of Iraq's debts to oil giants since 2013
Tue Dec 30 2014 7:01 p.m.
| (Voice of Iraq) - Add Comment - long / Baghdad and the former Minister of Petroleum confirms that the Iraqi government is required to pay about $ 27 billion for foreign companies that worked on the development of fields in the south and the debt of these belong to the past year and this year, referring to the The oil giants have spent about $ 43 billion over the past two years, and they plan to invest $ 87 billion until 2016. The parliamentary Finance Committee revealed the "long" this week, said Iraq will not reimburse the full amount of the companies, due to the financial crisis and the collapse of oil prices, and perhaps provide them with bonds guaranteed $ 12 billion only, to postpone the rest. reveals Ibrahim Bahr al-Ulum, a member of the Commission on oil and parliamentary power, for the past two years have seen invest in oil companies a lot of money up to $ 43 billion that the government paid half, under the licensing rounds decades, added to it corporate profits, which are deducted at the rate of $ 1.5 for every barrel of additional oil mined, as investors added about one million barrels for local production succeeded, and they set up a huge installations of all luxury items for the establishment of thousands of foreign experts on the outskirts of Basra in particular, and in charge of the transfer of expertise to local elements of working with them.
He says Bahr al-Ulum, in an extended interview with the "long", that "it is within the oil and energy plan for the upcoming tours and visits several to all foreign companies operating in Iraq in the oil sector to get to know their business and their problems." The attention of Bahr al-Ulum that "the number of companies foreign oil operating in Iraq up to nearly 17 global investment company engaged in the development and production of oil producing fields and explored. " He adds former oil minister that "The oil ministry has signed 17 oil contracts a coalition in the first licensing round, second, third and fourth with these companies to develop fields oil-producing and explored and gas. "
It shows that "the nationalities of the oil companies operating in the center and south are divided between the American companies that are less investment and between the Italian and British, Russian, Malaysian, Chinese, while the oil companies operating in the Kurdistan region of a long list of the most prominent Norwegian, Turkish, American and other companies . " He also points out that "the Kurdistan Regional Government concluded during the previous years, approximately 50 oil contracts exploration with international oil companies initiated by the expectation of three decades before 2006 and continued these contracts to the year 2010". On the achievements of these international companies during the past five years, confirms Attorney Bahr al-Ulum that "these oil companies have developed from oil production," explaining "after 2009 was up to 1.8 million barrels per day, managed these companies increased to 2.7 million barrels per day from the middle and south fields at the present time. The talk of oil outlook for a possible increase in the production of these areas, specifically, the beginning of the year 2015, to 3 million barrels of oil a day. "
It goes a member of the Committee on Energy parliamentary saying that "the investments made by the oil companies, especially in the producing fields in Basra, Zubair, sand and West Qurna 1 contributed to raise production at the Majnoon field to approximately 200 000 barrels per day, and the Ahdab to 170 thousand barrels, and discovered Badra fields that produce 40 000 barrels and Halfaya and others. " On the nature of the investment contracts entered into by the Federal Ministry of Oil with foreign companies, the former minister says that "these contracts oblige international companies to invest their money to raise the productive capacity of the oil that the Iraqi government is committed to pay 50% of the funds disbursed to the annual oil companies plus the profit rate of 1.5 dollars for each extra barrel. " draws oil expert, said that "the total oil investments spent by international companies in Iraq between the years 2011 - 2012 up to $ 17 billion, and the Iraqi government paid the amounts of oil to these companies up to $ 10 billion. "
He said a member of the Committee on Energy parliamentary that "investment contracts giving foreign companies the powers carve out an average of $ 1.5 for every barrel of oil extra This amount has been reduced to up to approximately 70 cents due to the imposition of fees and taxes, "noting that" the life of the investment contracts of between 20-25 years. " It is expected Bahr al-Ulum that "the amount of foreign oil companies have investments in 2015 up to $ 27 billion and 60 billion dollars during 2016 ". The attention and the former oil minister said that "these companies are demanding the federal government to pay $ 15 billion for the year 2013, added to $ 12.5 billion in 2014," noting that "the greater the production has increased the profits of these foreign companies." says Ibrahim Bahr al-Ulum, "there are 10 fields entered in the first licensing rounds and the second, third and fourth, added to the three gas fields and 2 field (Star and Qayyarah) in Nineveh has not been activated, added her 18 field exploration in the center and south." It is expected the parliamentary committee member, said "up production capacity of Iraq to 7 million barrels a day by 2020 through foreign investment companies. "
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Tue Dec 30 2014 7:01 p.m.
| (Voice of Iraq) - Add Comment - long / Baghdad and the former Minister of Petroleum confirms that the Iraqi government is required to pay about $ 27 billion for foreign companies that worked on the development of fields in the south and the debt of these belong to the past year and this year, referring to the The oil giants have spent about $ 43 billion over the past two years, and they plan to invest $ 87 billion until 2016. The parliamentary Finance Committee revealed the "long" this week, said Iraq will not reimburse the full amount of the companies, due to the financial crisis and the collapse of oil prices, and perhaps provide them with bonds guaranteed $ 12 billion only, to postpone the rest. reveals Ibrahim Bahr al-Ulum, a member of the Commission on oil and parliamentary power, for the past two years have seen invest in oil companies a lot of money up to $ 43 billion that the government paid half, under the licensing rounds decades, added to it corporate profits, which are deducted at the rate of $ 1.5 for every barrel of additional oil mined, as investors added about one million barrels for local production succeeded, and they set up a huge installations of all luxury items for the establishment of thousands of foreign experts on the outskirts of Basra in particular, and in charge of the transfer of expertise to local elements of working with them.
He says Bahr al-Ulum, in an extended interview with the "long", that "it is within the oil and energy plan for the upcoming tours and visits several to all foreign companies operating in Iraq in the oil sector to get to know their business and their problems." The attention of Bahr al-Ulum that "the number of companies foreign oil operating in Iraq up to nearly 17 global investment company engaged in the development and production of oil producing fields and explored. " He adds former oil minister that "The oil ministry has signed 17 oil contracts a coalition in the first licensing round, second, third and fourth with these companies to develop fields oil-producing and explored and gas. "
It shows that "the nationalities of the oil companies operating in the center and south are divided between the American companies that are less investment and between the Italian and British, Russian, Malaysian, Chinese, while the oil companies operating in the Kurdistan region of a long list of the most prominent Norwegian, Turkish, American and other companies . " He also points out that "the Kurdistan Regional Government concluded during the previous years, approximately 50 oil contracts exploration with international oil companies initiated by the expectation of three decades before 2006 and continued these contracts to the year 2010". On the achievements of these international companies during the past five years, confirms Attorney Bahr al-Ulum that "these oil companies have developed from oil production," explaining "after 2009 was up to 1.8 million barrels per day, managed these companies increased to 2.7 million barrels per day from the middle and south fields at the present time. The talk of oil outlook for a possible increase in the production of these areas, specifically, the beginning of the year 2015, to 3 million barrels of oil a day. "
It goes a member of the Committee on Energy parliamentary saying that "the investments made by the oil companies, especially in the producing fields in Basra, Zubair, sand and West Qurna 1 contributed to raise production at the Majnoon field to approximately 200 000 barrels per day, and the Ahdab to 170 thousand barrels, and discovered Badra fields that produce 40 000 barrels and Halfaya and others. " On the nature of the investment contracts entered into by the Federal Ministry of Oil with foreign companies, the former minister says that "these contracts oblige international companies to invest their money to raise the productive capacity of the oil that the Iraqi government is committed to pay 50% of the funds disbursed to the annual oil companies plus the profit rate of 1.5 dollars for each extra barrel. " draws oil expert, said that "the total oil investments spent by international companies in Iraq between the years 2011 - 2012 up to $ 17 billion, and the Iraqi government paid the amounts of oil to these companies up to $ 10 billion. "
He said a member of the Committee on Energy parliamentary that "investment contracts giving foreign companies the powers carve out an average of $ 1.5 for every barrel of oil extra This amount has been reduced to up to approximately 70 cents due to the imposition of fees and taxes, "noting that" the life of the investment contracts of between 20-25 years. " It is expected Bahr al-Ulum that "the amount of foreign oil companies have investments in 2015 up to $ 27 billion and 60 billion dollars during 2016 ". The attention and the former oil minister said that "these companies are demanding the federal government to pay $ 15 billion for the year 2013, added to $ 12.5 billion in 2014," noting that "the greater the production has increased the profits of these foreign companies." says Ibrahim Bahr al-Ulum, "there are 10 fields entered in the first licensing rounds and the second, third and fourth, added to the three gas fields and 2 field (Star and Qayyarah) in Nineveh has not been activated, added her 18 field exploration in the center and south." It is expected the parliamentary committee member, said "up production capacity of Iraq to 7 million barrels a day by 2020 through foreign investment companies. "
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