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Experts (range): the need to set up committees to oversee the licensing round deferred
On: Sun 02/19/2012 9:09
□ Baghdad / Ahmed Abed Rabbo
called oil experts to the need for the formation of specialized committees in the field of economic, legal and media during the signing of contracts for licensing rounds, the fourth to be held during the month of March next at the same time stressing the need to adopt the principle of transparency in the flow of information on these tours.
A study international oil from a major concern of the lack of success of this round because of the standards adopted by the Oil Ministry in dealing with the details of contracts with competing companies.
said oil expert Amr Hesham the need for the involvement of specialized committees field of economic, legal and media during the signing of contracts licensing round, the fourth pointing the need to avoid gaps that might get in the draft contract.
said Hesham (range): The Ministry of Oil to take the principle of transparency in contracts in addition to the use of the expertise of legal and economic access to better conditions, indicating the importance of building local expertise for the oil sector.
said Hisham: that this round is supposed to contribute to increased production and export gas and oil, pointing out that extractive industries are rings connected to each other and most important phase of exploration.
For his part, said oil expert Hamza Jeweler's (long): The oil ministry believes the presence of large amounts of gas in these regions which is located on the plateau west of Iraq, pointing out that this round basis to explore the geographical location of oil fields and gas.
He Jeweler: This is called phase survey geophysical site is pre-exploratory drilling, pointing to the priority of contractors in this round of investment fields that detect, called Jeweler Ministry oil to the introduction of the principle of transparency during the conclusion of contracts.
to the study prepared by the International Center for Development Studies in London on the success of the licensing round, the fourth that the Iraqi government is facing a recent wave of withdrawals of foreign oil companies from contracting with them for the benefit of new contracts with the Kurdistan region, indicating that this matter raises concern about the success of this round.
and between the center that at the time the government is depending on increasing the size of its oil revenues and development of 12 exploration blocks for oil and gas announce many of the companies invested in the fields of southern Iraq for fear of not being able to make profits sufficient to cover costs. The contractual terms imposed by Baghdad on the oil companies invested in these fields reduces the profit margin and increase the size of the risk of return down. Price quoted, which ranges between dollars and two dollars as a return on the barrel is not encouraging for these companies as compared to what you get with the development of the fields in the Kurdistan region in addition to factor the stability of the region and the facilities provided to investors there.
He said the center government's decision to punish the companies contracting with the Kurdistan Regional Government a wrong decision because it gives a bad impression of the Iraqi economy.
In the meantime, attributed the circles of parliamentary reasons for delay licensing round, the fourth to give more time for international companies competing and the amount of (46), noting at the same time that this tour will include the signing of contracts with (12) Company of including (3) specialized companies with gas and (9) other companies specializing in oil. The Ministry of Oil has made it an important step for the optimal investment for the existing gas in the ground to reflect its effectiveness on all parts of the country. The ministry had occurred during previous years, contracts with several international companies to develop some oil fields and the Ministry seeks to raise the production ceiling to 11 million barrels per day within the next six years and excludes some experts and specialists in the field of oil reaching the figure of the production. Iraq exports crude oil from the ports of Basra and Khor al-Amaya in the Persian Gulf, as well as the Turkish port of Ceyhan on the Mediterranean, and through the truck by truck to Jordan, and Iraq currently produces about 2.0005 million barrels of crude oil per day, and the proportion of exports from the Basra oil 90% , while the remaining issue of Kirkuk. The cabinet approved the draft law of oil and gas in 2007 but faced a Kurdish objection, observers believe it represents the differences between Arbil and Baghdad on oil revenue sharing and control of some fields in northern Iraq and the Kurdistan region. The law will determine the party that controls the vast oil reserves, Iraq's fourth-largest reserves in the world and also aims to attract foreign investors.
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