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Economic adviser Ebadi: We were dupes on oil licensing rounds in the previous government
May 25, 2015 15:51
Economic Adviser to the Prime Minister said the oil licensing rounds in the previous government are unsuccessful, was not successful.
He said in an interview with television channel Euphrates will tomorrow that "the previous licensing rounds began in a bad situation and production of oil is low, and the quality of the product Mbot the crude oil and water and clay fields Mthroh was due to the blockade of the former regime."
"It is, in principle, the licensing round sound and correct, and there is no technological opportunity we have to face the world but there was no understanding of the details."
He continued, "I am you {dupes} did not subliminal form of contracts and details and Fahmi have had superficial as we produce and export companies take their share, did not understand the form of contracts, which means we will produce and if they will not issue a repeat, image and rosy but we were shocked when we know the details."
He said, "It turns out that this is based on the production of theoretical and according to theoretical work, the field produces {100} thousand barrels and practically is issued {20} thousand barrels not to mention the benefits to the company because of the inability to export, and this equation is absent and did not give anyone us an answer and must develop capabilities export commensurate with the productive capacity ".
It began at the headquarters of the Ministry of Oil in Baghdad 30 last May the fourth round of licenses for 12 exploration blocks in different parts of the country, including seven gas fields and five oil, but this round has not achieved great success and merely signed a preliminary contract for patches exploratory 8, 9, 10 and 12.
Iraq and offer oil fields during the first and second licenses to develop the tour by international companies; to reach a production of at least 11 million barrels per day within the next six years, and to 12 million barrels per day after the addition of quantities produced from other fields of national effort,
This tour marked by service contracts under which the companies to get some profits by not more than six dollars, which amounts to less than two dollars for every barrel of product.
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May 25, 2015 15:51
Economic Adviser to the Prime Minister said the oil licensing rounds in the previous government are unsuccessful, was not successful.
He said in an interview with television channel Euphrates will tomorrow that "the previous licensing rounds began in a bad situation and production of oil is low, and the quality of the product Mbot the crude oil and water and clay fields Mthroh was due to the blockade of the former regime."
"It is, in principle, the licensing round sound and correct, and there is no technological opportunity we have to face the world but there was no understanding of the details."
He continued, "I am you {dupes} did not subliminal form of contracts and details and Fahmi have had superficial as we produce and export companies take their share, did not understand the form of contracts, which means we will produce and if they will not issue a repeat, image and rosy but we were shocked when we know the details."
He said, "It turns out that this is based on the production of theoretical and according to theoretical work, the field produces {100} thousand barrels and practically is issued {20} thousand barrels not to mention the benefits to the company because of the inability to export, and this equation is absent and did not give anyone us an answer and must develop capabilities export commensurate with the productive capacity ".
It began at the headquarters of the Ministry of Oil in Baghdad 30 last May the fourth round of licenses for 12 exploration blocks in different parts of the country, including seven gas fields and five oil, but this round has not achieved great success and merely signed a preliminary contract for patches exploratory 8, 9, 10 and 12.
Iraq and offer oil fields during the first and second licenses to develop the tour by international companies; to reach a production of at least 11 million barrels per day within the next six years, and to 12 million barrels per day after the addition of quantities produced from other fields of national effort,
This tour marked by service contracts under which the companies to get some profits by not more than six dollars, which amounts to less than two dollars for every barrel of product.
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