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Oil companies pay dues licenses
6/21/2015 0:00
Basra
paid the Ministry of Oil all financial dues to foreign companies contracting with them within the first and second oil licensing rounds, while negotiating with these companies in order to reduce costs and increase production to ensure the interests of the country and foreign companies in providing oil supplies globally, revealed a source in the company "Shell" Dutch developer of Majnoon field east of Basra, a plan for the development and the reduction of peak production rates and profitability of the field to develop a new goal of producing one million barrels of oil a day.
Undersecretary of the Oil Minister Fayyad good grace, announced in a statement the "morning" after a meeting with representatives of the oil licensing companies and managers of subsidiaries The Ministry in the presence of an inspector general of the ministry that "The ministry paid what Bzmtha of financial benefits to companies of oil licensing invested fields of Basra on crude oil production operations in 2014 and other expenses as well as the first quarter of the current year dues," noting that "the payment of the second chapter dues for the current year will pay in next July with pay third chapter dues by the end of the current year, while will be paid Chapter IV dues at the beginning of next year, ".sv grace for" reached during the meetings that took place in Basra and Baghdad understandings to sign the drafting of an amendment to the terms of the oil licenses, which aims to adjust the agreement the rate of production per barrel and the development of its investment plans for the fields costs down to produce six million barrels per day by 2018 to ensure the economic interest of the country and oil companies in their investments to cope with changes in prices and rates of crude oil on world markets, "noting that" the drop in oil price in the global markets led the government to negotiate with foreign companies to modify the terms of the licensing rounds Agreement in order to rationalize spending and to provide the necessary infrastructure and investment environment required that achieves the country's economic interests and also granting motivated extra-profit companies in the case of price increases and unsustainable burdens upon landing. "
For his part, a source in the company, "Shell said "Dutch invested for the Majnoon field: that his company" submitted a plan to the Ministry of oil from the two halves in order to develop production of the field included the reduction of peak production from the field to one million barrels a day instead of 1.8 million barrels per day agreed upon in the contract signed between the two former items while ensuring the second half if approval to reduce the profitability of producing a barrel ", adding that" both parties are convinced the process of amendment and the quantity that will be determined in the framework of the ongoing negotiations ".almsdr explained that" the company is awaiting the results of negotiations with the ministry on its plan to carry out development of the field in order to increase its current production which is up to 200 000 barrels per day and phased down to the company's plan to produce peak million barrels per day by 2018 ", adding that" the ministry confirmed that the profitability of producing a barrel reasonable limits and does not need to be amended. "
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6/21/2015 0:00
Basra
paid the Ministry of Oil all financial dues to foreign companies contracting with them within the first and second oil licensing rounds, while negotiating with these companies in order to reduce costs and increase production to ensure the interests of the country and foreign companies in providing oil supplies globally, revealed a source in the company "Shell" Dutch developer of Majnoon field east of Basra, a plan for the development and the reduction of peak production rates and profitability of the field to develop a new goal of producing one million barrels of oil a day.
Undersecretary of the Oil Minister Fayyad good grace, announced in a statement the "morning" after a meeting with representatives of the oil licensing companies and managers of subsidiaries The Ministry in the presence of an inspector general of the ministry that "The ministry paid what Bzmtha of financial benefits to companies of oil licensing invested fields of Basra on crude oil production operations in 2014 and other expenses as well as the first quarter of the current year dues," noting that "the payment of the second chapter dues for the current year will pay in next July with pay third chapter dues by the end of the current year, while will be paid Chapter IV dues at the beginning of next year, ".sv grace for" reached during the meetings that took place in Basra and Baghdad understandings to sign the drafting of an amendment to the terms of the oil licenses, which aims to adjust the agreement the rate of production per barrel and the development of its investment plans for the fields costs down to produce six million barrels per day by 2018 to ensure the economic interest of the country and oil companies in their investments to cope with changes in prices and rates of crude oil on world markets, "noting that" the drop in oil price in the global markets led the government to negotiate with foreign companies to modify the terms of the licensing rounds Agreement in order to rationalize spending and to provide the necessary infrastructure and investment environment required that achieves the country's economic interests and also granting motivated extra-profit companies in the case of price increases and unsustainable burdens upon landing. "
For his part, a source in the company, "Shell said "Dutch invested for the Majnoon field: that his company" submitted a plan to the Ministry of oil from the two halves in order to develop production of the field included the reduction of peak production from the field to one million barrels a day instead of 1.8 million barrels per day agreed upon in the contract signed between the two former items while ensuring the second half if approval to reduce the profitability of producing a barrel ", adding that" both parties are convinced the process of amendment and the quantity that will be determined in the framework of the ongoing negotiations ".almsdr explained that" the company is awaiting the results of negotiations with the ministry on its plan to carry out development of the field in order to increase its current production which is up to 200 000 barrels per day and phased down to the company's plan to produce peak million barrels per day by 2018 ", adding that" the ministry confirmed that the profitability of producing a barrel reasonable limits and does not need to be amended. "
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