December 20, 2010Former Iraqi minister calls for amending the law of oil and gas
Baghdad, The former Iraqi oil minister Ibrahim Bahr al-Ulum, Monday, the House of Representatives to the amendments to the law of oil and gas before reading it within the Council in line with the changes in the oil sector in the country Kjlat licenses.
The Bahr al-Ulum, told the Kurdish news agency (Rn), "The oil and gas law which is expected to be discussed by the House of Representatives during the coming period requires careful review to ensure modifications are consistent with the changes in the reality of the Iraqi oil during the past four years."
The Bahr al-Ulum that "can not pass a law of oil and gas form the current started two years ago did not take into account the changes and developments which may occur in fact, the oil," noting that "the law will organize the process of oil production and the mechanism of exporting and strengthen the relationship between Baghdad and Erbil."
The former House of Representatives failed to adopt the law of oil and gas because of the tyranny of political differences between Baghdad and Arbil, some of its paragraphs.
The oil contracts signed by the Kurdistan Regional Government with foreign companies of the most outstanding issues between Baghdad and Erbil, in the time that says the Iraqi Oil Ministry that the contracts of the territory are illegal because they do not have the right led to the conclusion, emphasizes the territorial Government that the Constitution conferred the right to conclude contracts.
And Iraq held two rounds of last year licenses to invest its oil fields resulted in the victory of several international companies of different nationalities to develop ten fields in different regions, established after the Iraq October last third oil licensing round.
Iraq seeks to access the oil produced within the next six years between 10 and 12 million barrels per day, in order to increase its exports of oil daily after obtaining approval from the Organization of the international oil cartel.
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