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Oil Minister calls for review of contracts licensing rounds
Abdul-Mahdi calls for review of contracts by about oil licensing "ensures" the national interest
2015/10/29
Oil Minister Adel Abdul Mahdi, on Thursday, on the need to re-examine contracts of oil licensing about "guarantees the national interest", it returned to international companies involved should "bear the responsibility" on the drop in oil prices and the global market, while considered SOC management, The amendments to those contracts "do not require big changes," indicating that the company's production rate of about three million and 50 thousand barrels per day.
This came during a visit Abdul-Mahdi, to Basra (590 km south of Baghdad), today, and inspecting the warehouse (Zubair 1) oil, west of the city, accompanied by the (long-Presse).
The minister said, "The oil licensing contracts need to review in order to ensure the national interest", adding that "international companies operating Iraq's oil fields, is the contractor under agreements with service contracts, so they should bear the responsibility for the fall in world prices, and accept to renegotiate with Iraq, in the framework of the positive relationship with them. "
He said Abdul-Mahdi, that "oil is the economic President supplier to Iraq, therefore, led lower its price to global markets to negative repercussions", calling for a "re-regulate the relationship with the international oil companies out of concern for the interests of the country and the consent of both parties."
For his part, the Director of counting the Southern Oil Company, Hayan Abdul Ghani, in an interview to the (long-Presse), "The amendments to the oil licensing contracts do not require big changes."
Said Abdul Ghani, he said that "the production of the Southern Oil Company rate of about three million and 50 thousand barrels per day," noting that "the company" processed oil refineries and power plants by about 500 thousand barrels per day. "
And includes the province of Basra, many of the oil fields and warehouses for the storage of oil a warehouse Zubeir 1 and Zubeir 2 and brick warehouse FAO, which is the largest oil reservoirs in the country and it is pumping oil to ports for export.
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