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High revenue drop in exports in return .. Jordan and prefer to modify the Iraqi gas oil contracts for the granting of privileges for international companies
2012-02-21متابعة ـ الصباح الجديد Follow-up 2/21/2012 New Morning
Revealed the agency American's financial news that Iraq had important amendments to the oil contracts in the licensing round, the fourth is expected to take place in May next, and pointed out that these amendments provide for global companies to obtain large concessions, including 100% of the share of projects, as well as compensation for any delay caused by the government.
The agency said «Dow Jones», the Iraq situation of important amendments to some articles of technical service contracts in force for 20 years with international companies that seek to explore for oil and gas in 12 sites potentially listed by the Ministry of Oil in the licensing round, the fourth to be held in May next.
The agency said that according to the new decade, the share of international companies will be 100% of the projects, none against companies for the Iraqi government, after the quota share contract was between 75% for the first and 25% for the second.
It is expected to contribute to this step in the compensation costs incurred by those companies more quickly, especially as it will have a greater share of oil and gas fields discovered and produced to pay dues, according to the agency.
The agency attributed the cause of making modifications to the concern of oil and gas companies on the risk and the signing of contracts for investment versus return shortly, as well as to express a number of other, including oil giant Total of France and Exxon Mobil, U.S. interest in the field of prospecting for oil in fields located north of the country in the territory of Kurdistan, which has the virtue of semi-autonomous, rather than the central and southern fields controlled by the central government.
The agency said that the Iraqi Oil Ministry will hold a meeting next March in the Turkish city of Istanbul with Msthartaha, the two companies into British Gaffney and Klein and their partners, to finalize the contract before it was delivered in April to international companies that will participate in the fourth round of licensing.
The agency noted that the ministry amended the clause allowed it to postpone the development of the fields up to seven years from the date of the announcement of exploration, having faced criticism from applicants before bidding.
The agency said the new item allows companies contracting the right to compensation for the costs of exploration and speculation in the event of the ministry decided to suspend work in the oil fields, as well as to get 3% of its oil revenues as interest for each year was postponed work there, and 5% of any other costs relating to mine and building roads, etc., for each year as well.
The 9 companies out of 46 withdrew from the fourth round of licenses to develop 12 oil fields is expected to take place in May next, where specialists believe that seven of them contain natural gas, and the other five on the crude oil.
It is expected to add round about 10 billion barrels of crude oil and about 29 trillion cubic feet of gas reserves to Iraq.
Has been postponed twice round on the back of the controversy that took place on whether the contracts should be raised on the basis of production sharing, subtraction, backed by companies explored, fixed price contracts or government-supported.
It is noteworthy that the model of a fixed-price contract identifying the work is complete and all costs in advance.
For its part, Jordan announced that they would prefer Iraqi gas to Qatari gas to compensate for the supply of Egyptian gas stalled, as revealed on a recent visit to the Prime Minister to Baghdad to discuss the matter.
The newspaper «tomorrow» Jordanian Prime Minister of Jordan Awn Al-Khasawneh said «we started to move with Qatar, but I do not find a room available at this level only from Iraq», in reference to search for alternatives to supply Egyptian gas stalled due to their exposure to Asthdavat continuing.
Khasawneh and confirmed that he will visit Iraq «very close» to discuss the matter, pointing at the same time that the «contacts with the country are continuing, as we try to research on the subject of gas with the Saudi brothers».
Increased oil revenues last January to more than 7.123 billion dollars, despite the decline in exports slightly from the previous month after an act of sabotage in the north of the country.
Said the spokesman of the Ministry of Oil, Assem Jihad told AFP that the «total exports of Iraqi crude oil in January was 65.3 per barrel average price of 109.081 dollars per barrel».
The total exports of Iraqi crude oil in the month of December amounted to 66.5 million barrels at an average price of $ 106.180 per barrel.
He attributed the ministry's spokesman slight decrease in the rate of export to sabotage the long oil pipeline north of the country in early February this.
The highest rates for export in 2011 of 69 million barrels in May, worth 7.470 billion dollars.
Jihad said that despite the decline of exports, the country has made imports more than it made in December, because of the high oil prices.
He explained that Iraq has made in January revenues of $ 7.123 billion, compared with 7.061 billion in December.
The amount of oil exported through the ports of Basra and Khor al-Amaya on the Persian Gulf (South) and the Turkish port of Ceyhan on the Mediterranean Sea in addition to the tanker trucks to Jordan.
Iraq produces 2.9 million barrels of oil per day, and emits more than two million, but these rates are still lower than those during the former regime.
The oil revenues, 94 percent of the country's revenues
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2012-02-21متابعة ـ الصباح الجديد Follow-up 2/21/2012 New Morning
Revealed the agency American's financial news that Iraq had important amendments to the oil contracts in the licensing round, the fourth is expected to take place in May next, and pointed out that these amendments provide for global companies to obtain large concessions, including 100% of the share of projects, as well as compensation for any delay caused by the government.
The agency said «Dow Jones», the Iraq situation of important amendments to some articles of technical service contracts in force for 20 years with international companies that seek to explore for oil and gas in 12 sites potentially listed by the Ministry of Oil in the licensing round, the fourth to be held in May next.
The agency said that according to the new decade, the share of international companies will be 100% of the projects, none against companies for the Iraqi government, after the quota share contract was between 75% for the first and 25% for the second.
It is expected to contribute to this step in the compensation costs incurred by those companies more quickly, especially as it will have a greater share of oil and gas fields discovered and produced to pay dues, according to the agency.
The agency attributed the cause of making modifications to the concern of oil and gas companies on the risk and the signing of contracts for investment versus return shortly, as well as to express a number of other, including oil giant Total of France and Exxon Mobil, U.S. interest in the field of prospecting for oil in fields located north of the country in the territory of Kurdistan, which has the virtue of semi-autonomous, rather than the central and southern fields controlled by the central government.
The agency said that the Iraqi Oil Ministry will hold a meeting next March in the Turkish city of Istanbul with Msthartaha, the two companies into British Gaffney and Klein and their partners, to finalize the contract before it was delivered in April to international companies that will participate in the fourth round of licensing.
The agency noted that the ministry amended the clause allowed it to postpone the development of the fields up to seven years from the date of the announcement of exploration, having faced criticism from applicants before bidding.
The agency said the new item allows companies contracting the right to compensation for the costs of exploration and speculation in the event of the ministry decided to suspend work in the oil fields, as well as to get 3% of its oil revenues as interest for each year was postponed work there, and 5% of any other costs relating to mine and building roads, etc., for each year as well.
The 9 companies out of 46 withdrew from the fourth round of licenses to develop 12 oil fields is expected to take place in May next, where specialists believe that seven of them contain natural gas, and the other five on the crude oil.
It is expected to add round about 10 billion barrels of crude oil and about 29 trillion cubic feet of gas reserves to Iraq.
Has been postponed twice round on the back of the controversy that took place on whether the contracts should be raised on the basis of production sharing, subtraction, backed by companies explored, fixed price contracts or government-supported.
It is noteworthy that the model of a fixed-price contract identifying the work is complete and all costs in advance.
For its part, Jordan announced that they would prefer Iraqi gas to Qatari gas to compensate for the supply of Egyptian gas stalled, as revealed on a recent visit to the Prime Minister to Baghdad to discuss the matter.
The newspaper «tomorrow» Jordanian Prime Minister of Jordan Awn Al-Khasawneh said «we started to move with Qatar, but I do not find a room available at this level only from Iraq», in reference to search for alternatives to supply Egyptian gas stalled due to their exposure to Asthdavat continuing.
Khasawneh and confirmed that he will visit Iraq «very close» to discuss the matter, pointing at the same time that the «contacts with the country are continuing, as we try to research on the subject of gas with the Saudi brothers».
Increased oil revenues last January to more than 7.123 billion dollars, despite the decline in exports slightly from the previous month after an act of sabotage in the north of the country.
Said the spokesman of the Ministry of Oil, Assem Jihad told AFP that the «total exports of Iraqi crude oil in January was 65.3 per barrel average price of 109.081 dollars per barrel».
The total exports of Iraqi crude oil in the month of December amounted to 66.5 million barrels at an average price of $ 106.180 per barrel.
He attributed the ministry's spokesman slight decrease in the rate of export to sabotage the long oil pipeline north of the country in early February this.
The highest rates for export in 2011 of 69 million barrels in May, worth 7.470 billion dollars.
Jihad said that despite the decline of exports, the country has made imports more than it made in December, because of the high oil prices.
He explained that Iraq has made in January revenues of $ 7.123 billion, compared with 7.061 billion in December.
The amount of oil exported through the ports of Basra and Khor al-Amaya on the Persian Gulf (South) and the Turkish port of Ceyhan on the Mediterranean Sea in addition to the tanker trucks to Jordan.
Iraq produces 2.9 million barrels of oil per day, and emits more than two million, but these rates are still lower than those during the former regime.
The oil revenues, 94 percent of the country's revenues
[You must be registered and logged in to see this link.]
