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Oil signs final with Pakistani company to invest invasive exploratory area 8
05-11-2012-12: 02
Economy and work
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Zulal
The Iraqi oil Ministry, Monday, final contract with a company to invest in eighth invasive exploratory area provinces of Wasit and Diyala, indicating that the cost of a $ 100 million investment in the investment will provide employment in these two provinces as well as "petrodollar revenues.
Undersecretary for oil refineries and gas industry Ahmed Al-shamma told a press conference today, and was attended by "NPR.org", "the Ministry signed a final contract today with Pakistan Petroleum Ltd to invest and develop invasive exploratory area in eighth round fourth licenses", stating that "exploratory area located between the provinces of Wasit and Diyala is 6,000 sq.
Chandler said that "winning company provided cost of production per barrel equivalent per five dollars and 38 cents", pointing out that "the cost of investment for the first phase of the field in the $ 100 million".
The Undersecretary said that "the company is bound by the seismic survey of the area a minimum of 1500 square kilometres and the fact at least one wells", stating that "the Ministry expects gas deposits exist in the exploratory area eighth."
Chandler said that "this soft patch will provide investment many jobs for people in Wasit and Diyala provinces, as well as the financial proceeds of Petro dollars, quantities produced gas will be used to meet local need, and export the surplus to outside Iraq."
Located in the eighth area of Wasit, Diyala and prospects of hydrocarbons were extracted (gaseous) (6000) km2 and the beneficiary of the oil company.
The oil Ministry has signed in mid-July last year preliminary exploratory patches contracts 8, 9 and 10 with the international oil companies won in the fourth round of oil licenses.
And started Iraqi oil Ministry headquarters in the capital, last May 30 licenses for fourth round 12 exploratory area in different parts of the country, oil minister Abdel Karim laiby round includes seven gas fields and five.
Iraq oil fields offered during the first and second licensing round for development by global companies to produce at least 11 million bpd, within the next six years, to 12 million bpd after adding the quantities produced of other fields national effort.
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