Home
Oil plans to reduce the production cost of licensing contracts and profits and parliamentary criticizes former officials
2015/11/07
Long-Presse / Baghdad
, It confirmed the Iraqi Oil Ministry, said Saturday that consultations to amend the contracts for the international oil companies operating in Iraq, "a continuous and going quietly," and accused the committee of oil and parliamentary power of former ministry officials to "myopia", predicted that the amendments include the participation to "profit and loss."
A spokesman for the Oil Ministry, Assem Jihad, said in an interview to the (long-Presse), "The ministry is continuing in consultation with the international oil companies operating in Iraq, to review the licenses obtained by the contracts," noting that it "includes a review held every oil field on the unit to reach to achieve a new agreement on it the benefit of the parties, according to the understanding between them. "
Jihad said that "the terms of a licensing contracts offers the possibility of revision in the light of variables," adding that "dialogues with the oil companies are going about quiet so far."
He favored a spokesman for the oil ministry, that "changes to the oil licensing contracts include reducing production costs and the percentage of the profits," stressing that "The ministry will announce the details of each contract after the completion of agreed upon with the company concerned."
For his part, member of the Commission on oil and energy parliamentary, Aziz Ugaili, said in an interview to the (long-Presse), "The former officials in the oil ministry, did not think the changes that can occur to world oil prices, when they signed licensing rounds decades", pointing out that they "Think about all the profit is possible to achieve a timely manner."
He Ugaili, that "Iraq pay for that minor thinking after falling oil prices and has become the loss of its share of the unity", returned to "The current oil minister, Adel Abdul-Mahdi, working to modify some of the terms of licensing contracts by mutual consent, without that it means to cancel."
He predicted a member of the Commission on oil and energy parliamentary, that "moving the amendment to the share of loss and profit as is the case in the Kurdistan region", ruling that "the oil companies concerned rejects amendment licensing contracts," attributing the cause to "Rsantha and its commitment to non-Iraqi market loss, or not to get any new investment opportunity in the future. "
The oil minister, Adel Abdul-Mahdi, said in (the 29th of October 2015), 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, when she saw the Southern Oil Company management, that 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.
[You must be registered and logged in to see this link.]
