This month see The Signing of the Final Oil Contracts with Companies

Oil: the Council of Ministers made changes to contracts and This month see the signing of the final oil contracts with companies

Baghdad: The Ministry of Oil in Baghdad, said Tuesday that the amendments made by the Council of Ministers on oil contracts approved Tuesday is a legal and technical adjustments do not affect its substance, confirmed that this month will witness the signing of final contracts.

He said the ministry spokesman Asim Jihad said in an interview for "Alsumaria News", "The Council of Ministers agreed on all contracts to companies winning the second licensing round, which was initialed by the Ministry of Oil after having made some adjustments for technical and legal simple and does not affect the essence of these contracts. "

The Jihad that "The oil ministry will sign during the month of January once the current contracts with the winning companies to develop these fields," calling companies and soon signed them to contracts once and for all, to "proceed with development of the fields."

The Oil Ministry has signed an initial form, on 29 October last contract with Exxon Mobil Corp. and Royal Dutch Shell Group to develop the West Qurna field, also signed in the second of November an initial contract with an international consortium led by Italy's ENI to develop the Zubair field in two rounds licenses first.

The Iraqi government has agreed, on the eighteenth of October last contract with the British company BP and (CNBC) Chinese to develop Rumaila oil, which estimated reserves of oil at about 17.8 billion barrels, it was announced after the Iraqi Oil Minister Hussain al-Shahristani in the third November saw the signing of a final contract with the representatives of British and Chinese companies.

The Oil Ministry announced during the second licensing round, which began on 11 this month and lasted for two days, the victory of a coalition Dutch Shell and Malaysia's Petronas to develop Majnoon oil in the province of Maysan, a coalition of business, with his CNBC Chinese and Malaysian Petronas and France's Total to develop the field Halfayah also located in the province of Maysan. The coalition won the Russian company Lukoil Oil Stadium and the Norwegian investment in West Qurna Phase II, and has won Snegul investment in the field of a star.

Alsumaria News