25/01/2011Oil companies in Iraq is facing difficult times
BAGHDAD - facing the foreign oil companies operating in Iraq is a real challenge in poor infrastructure and declining reserves, which would make it difficult for them to continue along these steps which I have so far produced in larger quantities than had been planned.
Vantage oil giant me. Me and Italian oil company Eni has increased the level of ten percent, which allows them to compensate for the cost and in shorter time than was anticipated.
But on the other side end of his ambitions on Iraq, energy productivity.
Officials began talking about eight million barrels a day as a target for a series of deals awarded to international oil companies in 2009, down from 12 million barrels per day, were promoted by her will and was in Iraq comparable to the level of export giant Saudi Arabia.
Said Samuel Ciszuk of any company. H. S Energy, "the easy part is always to increase production rapidly in the early stages, which is not linked to virtually nothing."
"Now we are moving towards the second phase increase in the appropriate production capacity is difficult to continue. The hard work starts now to some extent."
To achieve the goal of producing ten percent provided for in the initial development contracts signed by Baghdad, oil companies drilled a few wells and wells were repaired and extended the list of pipelines and repaired a small infrastructure obsolete.
Iraq says the progress that has happened so far is to raise production to 2.7 million bpd, the highest level in two decades.
The increase in production came primarily from the Rumaila developed by me. Me and Zubair fields, which is working on the development of Eni.
To reach the next level of production and maintain it for years, companies need to invest in Iraq and billions of dollars to improve infrastructure and set up storage tanks and export terminals and water pipelines.
Among the major projects the establishment of a water injection to help increase the amount that can be pumped from the southern fields and to overcome the rapid rates of decline in production.
And will lead the project, Exxon Mobil U.S. giant could surpass the cost of ten billion dollars.
The oil companies will provide the initial funding will have to pay the cost of the Iraq oil revenues at a later stage.
In addition, Iraq needs to allow it to export oil in excess of need.
Fmravih Navy is already working at maximum capacity, let alone Tdaiha The pipeline to Turkey suffered repeated technical problems and is frequently subjected to sabotage attacks.
On the other hand you need the government, which expects a deficit of 11.99 billion dollars in 2011 to offset millions of dollars to rebuild after years of war and underinvestment.
It will be the current rise in oil prices, which took the market to prospects more than $90 a barrel as a catalyst.
But Raad Alkadiri of BP. F. PFC Energy said: "The problem is not necessarily in the money ... the most important question is will enable you to make the infrastructure more efficiently."
"It's a question of good governance and rational policy in the end."
The last time that will enable the Iraq, which has some of the largest oil reserves in the world to raise oil production to three million barrels per day in the late eighties before invading Kuwait, a step that triggered a military response to U.S. sanctions and obstructive.
In a poll conducted by Reuters in October, more than analysts predicted that Iraq's production of crude oil to 2.8 million barrels per day by the end of 2011 and to 4.6 million barrels a day by 2015.
And this makes the rate of production reach a level of 12 million barrels per day during the six or seven years and was targeted by elusive.
In November last year, said Thamer Ghadhban, a senior adviser to Prime Minister Nuri al-Maliki on oil production that could increase to eight million barrels per day by 2017.
Since then, others made similar comments.
Analysts said the goal of developing a more realistic may be a politically motivated, in part, may help to defuse any tension that may arise with other members of the Organization of Petroleum Exporting Countries (OPEC).
He said Ciszuk of any company. H. S "I think the preliminary figures dashed. 12 million barrels per day during the seven years his political motivation. Elections are on the doorstep."
Iraq is the only country excluded from the restrictions according to production quotas in OPEC.
At the end of the day there will be a specific target, as consideration for the aspirations of Iraq on oil production as higher than the reality.
In the past year and expect a former oil minister Hussein al-Shahristani, Iraq's production ceiling for OPEC's no less dedicated to Saudi Arabia more influential members of the organization.
Said Issam Chalabi, former Iraqi Minister of Oil, "OPEC members have sufficient expertise to exaggerate Iraq in its estimates of what will reach it from the production in the future and I think that Iraq will understand that in the end to reach the high rates of production is impossible to achieve."
"The access to achieve the goal of producing 12 million barrels per day is impossible. Where is the water injection facilities .. where huge oil tanks .. Where is the export pipeline .. enough for Iraq to provide adequate answers to all these questions and only then can talk about increase its production to the high rates.
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