October 14, 2009
Iraq will be one of the largest oil-exporting countries in six years
Al-Shahristani, confirming that global companies to invest the fields declared in the first round of licenses
Baghdad, Tariq al-Araji
Oil Minister Hussein al-Shahristani, the consent of international companies to invest oil fields announced by the ministry in the first round of licenses and prices set by the ministry and the form to achieve substantial increase in oil production during the next six years.
Shahristani said at a joint news conference with government spokesman Dr. Ali al-Dabbagh said companies that had made progress in the first round of licensing, organized by the Ministry of Oil has agreed to invest those fields with prices set by the ministry after they made these companies an in-depth negotiations with the Oil Ministry.
He added that the fields that are approved by these companies are field-Zubair and West Qurna, the first phase, in addition to Rumaila which was agreed upon in the first licensing round with the oil company British coalition with the Chinese oil company.
Shahristani said that Italy and the company agreed to invest Zubair price set by the ministry, which is two dollars a barrel and the additional production capacity of million and 825 thousand barrels per day.
He said the two world wars coming up to invest in the West Qurna field, a company Aoxn Mobil, Shell and the U.S. price of 1.90 cents and the production of million and 900 thousand barrels per day competition, Russia's LUKOIL, in addition to Philips to invest in the same field, but production million 500 thousand barrels per day.
He said the ministry and after the approval of these companies to invest these fields, they will negotiate with them on the final version for submission to the Council of Ministers for approval, a process that takes at least two weeks.
He said al-Shahristani said Iraq would be the first countries in the export of oil during the next six years, as it will produce by investing in these fields, as well as what is produced now, more than 7 million barrels a day.
And that Iraq's production of crude oil after the companies agree to invest the fields during the second licensing round, somewhere between 10 to 12 million barrels per day, which means it will be the largest exporters of oil in the world during the next six years.
He said that this situation would be reflected positively on the standard of living for the Iraqi people through the provision of hundreds of thousands of jobs for Iraqis, adding that the ministry has stipulated that these companies that the ratio of the Iraqi workforce in these fields for 85 percent of their workers, adding that the success of the ministry on a tour licensing agreement with a number of international companies is a response to skeptics policy ministry.
The Delegation stated that the amount allocated to companies as the rate of interest on the barrel of the fields added investment will pay off 35 percent tax and 25 percent of Iraq which will partner with these companies, so you will not be left to these companies only 97 cents.
He said al-Shahristani said the second licensing round scheduled for the end of this year will be the ten oil fields, and stressed the non-inclusion gas fields in this round, noting that it is expected that the increase in production from these fields of five million barrels a day.
And the threat of the Kurdistan Regional Government to stop the export of Iraqi oil producer in the region, al-Shahristani said that what happened, but otherwise has signed a contract to one of small fields, which produces about 40 thousand barrels per day when production was halted, and now are negotiating on this issue, noting that oil product should be issued through the national oil marketing company, and revenues deposited in the Central Treasury, which is agreed upon by everyone.
He stressed that the law firm's national oil ministry submitted to the Cabinet for approval of a draft and he is now before Parliament for approval and when it is ratified it will be the work of this company to be responsible for other oil companies as well as responsibility in the development of existing oil fields across the country.
For his part, Dabbagh said the costs to be paid by companies would be attributed to companies by the government without interest, and the government appealed to Iraqi companies to enter into contracts with those secondary oil companies.
