06/01/2010Oil Ministry invites foreign oil companies to sign the final contracts to develop four oil fields
Agencies, and the weekly news agency
Oil ministry invited foreign oil companies to come to the capital Baghdad and the signing of the final offers on developing four oil fields, the Government had ratified it on Tuesday.
The Iraqi Oil Minister Hussain al-Shahristani said on Wednesday that development proposals for the four oilfields crazy Gharraf and Alekiarp and star were presented "obtained the consent of the Council of Ministers, so the ministry called all the companies that win contracts to develop the fields to come to Baghdad and the signing of the final offers for direct action "Shahristani predicted that the total oil production from four fields more than two million barrels per day, which "thus strengthening the current production level, which is about two and a half million barrels a day."
Meanwhile, the government spokesman, Ali al-Dabbagh that the Council of Ministers approved the service contracts for oil fields, Majnoon and Gharraf and Qayyarah and the star and the service contracts for the other fields that got approved within the first two rounds of licensing and the second after the amendments requested by the Council of Ministers and approved by the other winning companies the same conditions and materials contained in the contracts in question.
Dabbagh said a service contract for the Majnoon field, have been won by the coalition of Dutch Shell and Petronas of Malaysia in the second licensing round, which was held in Baghdad on 11 and 12 December 2009, and ...
This contract standard is designed to reach peak production of 1,800,000 barrels Mekdrha paid profit of $ 1,39 a barrel on the product and gives contractor to the Ministry of oil signature bonus non-refundable U.S. $ 150 million has been signed and initialed between the coalition and the Oil Ministry said on 20 December 2009 and the service contract for a field Gharraf was won by the coalition of companies Petronas of Malaysia and the Japanese JAPEX peak production of 230,000 barrels paid profit of $ 1, $ 49 a barrel where the product was initialed between the coalition and the Oil Ministry said on 21 December 2009 and ...
The contract of service of the fields and Qayyarah star has won the Angolan company Sinankol production peak of 120,000 and 110,000 barrels respectively paid profit of $ 5 and $ 6 a barrel on the product, respectively and gives the contractor for the oil ministry non-refundable signing bonus of $ 100 million for each of the contracts were signed with initials of the two decades between the above company and the Oil Ministry on 30 December 2009.
Dabbagh said the contracts and parties are subject to Iraqi law and all regulations in force in the Republic of Iraq, where the duration of contracts is 20 years, extendable for a period of 5 years and the opinions of the parties to the contract and are the Southern Oil Company for a field crazy and the North Oil Company Qayyarah fields and star as a first and second companies contracting party is activated after approval by the Cabinet and
The first party is entitled to terminate the contract in case of false information have a significant impact on the implementation of the contract and deliberately to the first party or second party if it fails in achieving the goal of producing peak after 7 years from the date of the contract or not able to sustain for a period of 10 years or in the case of the lack of physical presence to the second party cadres and equipment necessary to implement the oil operations after 6 months from the date of approval of the preliminary development plan will be to form a joint management committee comprising of 8 members 4 of the first party and 4 of the second party and there are a similar number to reserve during the 30 days from the effective date of the contract, the Committee revised the plans and work programs and budgets and methods of operation, approval and assignment of contracts and the approval of secondary training programs and oversees the management and implementation of plans and programs approved and review of quarterly financial reports and annual and periodic reports of companies.
Dabbagh said that the gas associated with petroleum operations should be dealt with and manufactured by the contracting companies as one of their contractual obligations and were paid on the quantities produced after conversion to equivalent barrels of oil equivalent may not be burning associated gas, but within narrow limits and with the consent of the first party which can be used in the processes of petroleum companies free of charge either in relation to the ownership of the materials, equipment and devices would provide for first party once it enters the territory of the Republic of Iraq shall have the right companies and the contractor use at no charge for the purposes of implementing the contract and the contracting companies to pay taxes on wage-profit rate not exceeding 35%, the first party shall bear any taxes of more than 35 per % as a result of any change in the tax law of the Republic of Iraq and are paid a profit of 50% of the maximum production yields are either cash or crude oil and crude oil pricing, as assessed by the Oil Marketing Co., announced by the month.
Dabbagh said the contracts and parties are subject to Iraqi law and all regulations in force in the Republic of Iraq, where the duration of contracts is 20 years, extendable for a period of 5 years and the opinions of the parties to the contract and are the Southern Oil Company for a field crazy and the North Oil Company Qayyarah fields and star as a first and second companies contracting party is activated after approval by the Cabinet and
The first party is entitled to terminate the contract in case of false information have a significant impact on the implementation of the contract and deliberately to the first party or second party if it fails in achieving the goal of producing peak after 7 years from the date of the contract or not able to sustain for a period of 10 years or in the case of the lack of physical presence to the second party cadres and equipment necessary to implement the oil operations after 6 months from the date of approval of the preliminary development plan will be to form a joint management committee comprising of 8 members 4 of the first party and 4 of the second party and there are a similar number to reserve during the 30 days from the effective date of the contract, the Committee revised the plans and work programs and budgets and methods of operation, approval and assignment of contracts and the approval of secondary training programs and oversees the management and implementation of plans and programs approved and review of quarterly financial reports and annual and periodic reports of companies.
Dabbagh said that the gas associated with petroleum operations should be dealt with and manufactured by the contracting companies as one of their contractual obligations and were paid on the quantities produced after conversion to equivalent barrels of oil equivalent may not be burning associated gas, but within narrow limits and with the consent of the first party which can be used in the processes of petroleum companies free of charge either in relation to the ownership of the materials, equipment and devices would provide for first party once it enters the territory of the Republic of Iraq shall have the right companies and the contractor use at no charge for the purposes of implementing the contract and the contracting companies to pay taxes on wage-profit rate not exceeding 35%, the first party shall bear any taxes of more than 35 per % as a result of any change in the tax law of the Republic of Iraq and are paid a profit of 50% of the maximum production yields are either cash or crude oil and crude oil pricing, as assessed by the Oil Marketing Co., announced by the month.
