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Kocaz Korean: terrorism and the financial crisis threaten oil companies in Iraq and return to Inbar, subject to security
22.04.2015
Baghdad
Korean company operating in the crutch gas field Anbar, confirmed on Wednesday that Iraq should continue pumping oil, no matter how low world prices for the payment of international energy companies operating in the country, and the lack of activity stops, the result of the overall economy's dependence on these natural wealth, while the that the company will not be able to resume work only after Astbab to maintain security, pledged to detect the Iraqi Oil Ministry to pay dues for the past year in 2014, the current mid-2015.
The director Kocaz KOGAS Korean company for the gas industry, Meongnam Kim (Myeongnam Kim), in an interview with directing TOGY news site specialist oil and gas industry, I followed the (long-Presse), if there are "inter obstacles facing the oil and gas industry in Iraq, especially Anbar province, where she works The company in the gas field crutch, "returned to the" Iraq to face declining oil prices and handling delays debt owed to international oil companies to pay, in order to ensure the continuity of the flow of oil industry resources. "
And saw Kim, that "the ability to work around effectively in Iraq is linked to the site, which the company operates," adding that "the continuation of Basra produces approximately 2.00049 million barrels per day, during the second half of the past in 2014, caused by a lack of affected companies operating there security turmoil the uncle and other parts, such as Anbar province, and most of the northern parts of Iraq. "
The director of the Korean Kocaz company, that "the turmoil spread to the region since he took organize Daash city of Fallujah (62 km west of Baghdad), in January of 2014," adding, "However, the company can then continue to work in the cane field, but progress insurgents during the summer of 2014, led to the suspension of its operations completely. "
According to the site, that "Kocaz company had begun exploration work in the gas field crutch during the year 2011," noting that "the gunmen killed three local workers the company in April 2013, without that security authorities are able to believe in the company any kind of protection because of the problems many of them suffering. "
Revered Kim, that "the company was aware that the situation in Iraq is beyond the scope sometimes control, so were not always able to rely on the government to ensure the necessary protection," pointing out that "the Iraqi government sent the beginning of 2014 the past, additional troops to protect the cane field invader, but Shpthm with the beginning of July, where the majority of the oil has been publishing the protection of police officers north of the country. "
He explained the company's director, said: "crutch gas field production should begin in September of the current year 2015", ruling out "the possibility of achieving it."
Kim said, "The resumption of the company's business in the gas field crutch, will be relieved when the threat of militants completely and there is a guarantee of security for the return of Anbar," revealing "discuss the issue of changing the date of commencement of production from the field crutch with government Midland Oil Company."
And on the fiscal deficit suffered by Iraq because of low world oil prices, and the lack of cash needed to pay dues global companies, according to agreements with them, including Kocaz company, said director of the Korean Kocaz company, that it may "force companies to stop their activities."
Kim continued, "The international oil companies operating in Iraq, did not get the compensation they deserve, according to usually after specific, as a result of the financial crisis there," likely to "include all operating in Iraq and the global companies now."
The Korean director for fear of the consequences of "forced some companies, including Kocaz, to reduce its activities in Iraq, it can not continue to spend on projects without the presence of a specific date for the receipt of dues," Msttrda have "the company has spent more than two billion dollars curb this April 2015 , the project cane field so you can not exchange more than expansion. "
Kim revealed, for "the Iraqi oil minister, Adel Abdul-Mahdi, to inform the company that Iraq will pay dues for the past year in 2014, the current mid-2015."
He concluded director Kocaz company, Meongnam Kim, that "Iraq has no choice but to continue to pump oil, no matter how low world prices to ensure continuity of activity of oil and gas companies operating in the country, as a result of the overall economy's dependence on these natural resources."
Was a coalition of Korean Kocaz company and Kaz Kazakhstan, won the development of the gas field crutch in Anbar province, based in the city of Ramadi (110 km west of Baghdad), after the submission of the tender included the cost of producing a barrel equivalent of five dollars and fifty cents, and with a capacity of 400 Mqmq (feet standard cubic), and an investment of at least $ 25 billion over 13 years to reach peak production from the field.
Located crutch gas field, which was discovered in 1992, (25 km south-west of the existing spend) on the Euphrates River, near the Syrian border, and a length of 50 km and width of 18 km, and the six-dug wells, and a gaseous inventory installed the 5.6 trillion cubic meters record .
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22.04.2015
Baghdad
Korean company operating in the crutch gas field Anbar, confirmed on Wednesday that Iraq should continue pumping oil, no matter how low world prices for the payment of international energy companies operating in the country, and the lack of activity stops, the result of the overall economy's dependence on these natural wealth, while the that the company will not be able to resume work only after Astbab to maintain security, pledged to detect the Iraqi Oil Ministry to pay dues for the past year in 2014, the current mid-2015.
The director Kocaz KOGAS Korean company for the gas industry, Meongnam Kim (Myeongnam Kim), in an interview with directing TOGY news site specialist oil and gas industry, I followed the (long-Presse), if there are "inter obstacles facing the oil and gas industry in Iraq, especially Anbar province, where she works The company in the gas field crutch, "returned to the" Iraq to face declining oil prices and handling delays debt owed to international oil companies to pay, in order to ensure the continuity of the flow of oil industry resources. "
And saw Kim, that "the ability to work around effectively in Iraq is linked to the site, which the company operates," adding that "the continuation of Basra produces approximately 2.00049 million barrels per day, during the second half of the past in 2014, caused by a lack of affected companies operating there security turmoil the uncle and other parts, such as Anbar province, and most of the northern parts of Iraq. "
The director of the Korean Kocaz company, that "the turmoil spread to the region since he took organize Daash city of Fallujah (62 km west of Baghdad), in January of 2014," adding, "However, the company can then continue to work in the cane field, but progress insurgents during the summer of 2014, led to the suspension of its operations completely. "
According to the site, that "Kocaz company had begun exploration work in the gas field crutch during the year 2011," noting that "the gunmen killed three local workers the company in April 2013, without that security authorities are able to believe in the company any kind of protection because of the problems many of them suffering. "
Revered Kim, that "the company was aware that the situation in Iraq is beyond the scope sometimes control, so were not always able to rely on the government to ensure the necessary protection," pointing out that "the Iraqi government sent the beginning of 2014 the past, additional troops to protect the cane field invader, but Shpthm with the beginning of July, where the majority of the oil has been publishing the protection of police officers north of the country. "
He explained the company's director, said: "crutch gas field production should begin in September of the current year 2015", ruling out "the possibility of achieving it."
Kim said, "The resumption of the company's business in the gas field crutch, will be relieved when the threat of militants completely and there is a guarantee of security for the return of Anbar," revealing "discuss the issue of changing the date of commencement of production from the field crutch with government Midland Oil Company."
And on the fiscal deficit suffered by Iraq because of low world oil prices, and the lack of cash needed to pay dues global companies, according to agreements with them, including Kocaz company, said director of the Korean Kocaz company, that it may "force companies to stop their activities."
Kim continued, "The international oil companies operating in Iraq, did not get the compensation they deserve, according to usually after specific, as a result of the financial crisis there," likely to "include all operating in Iraq and the global companies now."
The Korean director for fear of the consequences of "forced some companies, including Kocaz, to reduce its activities in Iraq, it can not continue to spend on projects without the presence of a specific date for the receipt of dues," Msttrda have "the company has spent more than two billion dollars curb this April 2015 , the project cane field so you can not exchange more than expansion. "
Kim revealed, for "the Iraqi oil minister, Adel Abdul-Mahdi, to inform the company that Iraq will pay dues for the past year in 2014, the current mid-2015."
He concluded director Kocaz company, Meongnam Kim, that "Iraq has no choice but to continue to pump oil, no matter how low world prices to ensure continuity of activity of oil and gas companies operating in the country, as a result of the overall economy's dependence on these natural resources."
Was a coalition of Korean Kocaz company and Kaz Kazakhstan, won the development of the gas field crutch in Anbar province, based in the city of Ramadi (110 km west of Baghdad), after the submission of the tender included the cost of producing a barrel equivalent of five dollars and fifty cents, and with a capacity of 400 Mqmq (feet standard cubic), and an investment of at least $ 25 billion over 13 years to reach peak production from the field.
Located crutch gas field, which was discovered in 1992, (25 km south-west of the existing spend) on the Euphrates River, near the Syrian border, and a length of 50 km and width of 18 km, and the six-dug wells, and a gaseous inventory installed the 5.6 trillion cubic meters record .
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