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Oil Minister reveals: Iraq has lost $ 14 billion in compensation paid to oil companies
3/30/15
BAGHDAD - and babysit- Detection and Oil Minister Adel Abdul Mahdi, on Monday, for the loss of the state more than $ 14 billion in compensation paid to foreign companies operating in Iraq.
Said Abdul-Mahdi said in a statement, "public opinion" has received a copy of it, that "the Iraqi state has paid compensation to oil companies, as a result of disruptions bore responsibility," noting that "the total payment of compensation since 2011 and the end of 2014 amounted to 14 billion and 448 146 000 dollars, or more than $ 3.6 billion a year on average. "
He attributed the oil minister, the loss to "poor planning or because of the application of restrictions and work instructions and procedures obsolete Tkhosrna more than protect us or defend our interests."
The Minister of Oil that "licensing rounds contracts stipulated in Article 12.5 of which he (the Company may extractive review your any proposed work program of the production level of a proposed or certified, has required under the notice, a written, from the contractor or operator increase or reduction (reduction) the rate of production of the contract area). "
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3/30/15
BAGHDAD - and babysit- Detection and Oil Minister Adel Abdul Mahdi, on Monday, for the loss of the state more than $ 14 billion in compensation paid to foreign companies operating in Iraq.
Said Abdul-Mahdi said in a statement, "public opinion" has received a copy of it, that "the Iraqi state has paid compensation to oil companies, as a result of disruptions bore responsibility," noting that "the total payment of compensation since 2011 and the end of 2014 amounted to 14 billion and 448 146 000 dollars, or more than $ 3.6 billion a year on average. "
He attributed the oil minister, the loss to "poor planning or because of the application of restrictions and work instructions and procedures obsolete Tkhosrna more than protect us or defend our interests."
The Minister of Oil that "licensing rounds contracts stipulated in Article 12.5 of which he (the Company may extractive review your any proposed work program of the production level of a proposed or certified, has required under the notice, a written, from the contractor or operator increase or reduction (reduction) the rate of production of the contract area). "
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