March 18, 2011Committee on Oil and Gas plans to the parliamentary bill
Baghdad, The U.S. Commission on oil and gas representative, on Friday, it will be a bill to the House of Representatives to abolish the previous agreements on the development of humpback oil field by the Chinese company.
The committee member said Furat al-Shara told the Kurdish news agency (Rn) that "the oil and gas parliamentary written, a new draft law respect to avoidance of the contract to develop the humpback, the fact that the House of Representatives had not seen the wording of the contract and does not have a cover legal and legislative requires developed by Chinese companies, which agreed with Ministry of Oil. "
The field is located Ahdab in Wasit province, and estimated oil reserves of the field by more than one billion barrels and could reach the production capacity to 125 thousand barrels per day and agreed with the Iraqi government to grant a Chinese company to develop and regain the company for the entire cost and investment and through a service contract for a period of 20 years can be increased was endorsed by Council Minister of the contract even without see it as fully as it was presented to the Council of Representatives, which works to abolish the Commission on oil and gas representative.
Shara added that "oil and gas committee is working to provide legislative cover for the oil ministry to succeed in its efforts to stimulate investment fields and raise the level of oil production in the country."
He continued by saying that "the oil and gas law will also discuss the national oil companies as it would review the contracts this week, the three licensing rounds."
And that "the Iraqi Council of Representatives Musharraf to any contract to develop oil and gas fields until the adoption of the law of oil and gas."
And the failure of the House of Representatives to pass Bdorth previous oil and gas law, which was expected to rise if approved oil situation.
He called economists earlier in the House of Representatives need to enter the Council an amendment to paragraph (c) of Article V of the oil and gas law relating to the establishment of the Federal service and the voting for the organization of the oil wealth in the country, in order to limit the function of the Federal service to supervise the mechanism of action of the Ministry of Oil and regulate the relationship between them and the provinces.
As indicated in paragraph (c) of Article V to the formation of the Federal Council of oil to facilitate the tasks of the Council of Ministers regarding the adoption of petroleum policy and planning implications which are being prepared by the ministry in coordination and consultation with the regions and producing provinces as well as to develop the necessary instructions for the conclusion of contracts for exploration and production under Article No. 9 This law establishes a body called the Council of Ministers (the Federal Council for Oil and Gas).
The Prime Minister or his deputy, under his chairmanship and membership includes both of the Ministers of Oil, Finance, Planning and Development Cooperation of the Federal Government and the Iraqi Central Bank Governor and a representative from each region, the rank of minister and a representative from each province produced regularly in the region and the executive heads of major oil firms and related and by including the national oil company and the Iraqi oil marketing company specialized experts with oil and gas, finance and economy, not more than three, to be appointed for a maximum period of five years from the decision of the Council of Ministers.
The Ministry of the Iraqi oil for the month of September of last year that crude oil inventories in the country was 505 billion barrels of discovered fields, which total $ 66 oil fields, with total recoverable reserves of 143 billion barrels of oil.
The Iraqi Oil Ministry three rounds of investment licenses for oil and develop oil fields.
Plans to increase Iraq's oil exports during the next six years to 12 million barrels per day after obtaining the approval of the world's oil (OPEC).
http://www.aknews.com/ar/
Baghdad, The U.S. Commission on oil and gas representative, on Friday, it will be a bill to the House of Representatives to abolish the previous agreements on the development of humpback oil field by the Chinese company.
The committee member said Furat al-Shara told the Kurdish news agency (Rn) that "the oil and gas parliamentary written, a new draft law respect to avoidance of the contract to develop the humpback, the fact that the House of Representatives had not seen the wording of the contract and does not have a cover legal and legislative requires developed by Chinese companies, which agreed with Ministry of Oil. "
The field is located Ahdab in Wasit province, and estimated oil reserves of the field by more than one billion barrels and could reach the production capacity to 125 thousand barrels per day and agreed with the Iraqi government to grant a Chinese company to develop and regain the company for the entire cost and investment and through a service contract for a period of 20 years can be increased was endorsed by Council Minister of the contract even without see it as fully as it was presented to the Council of Representatives, which works to abolish the Commission on oil and gas representative.
Shara added that "oil and gas committee is working to provide legislative cover for the oil ministry to succeed in its efforts to stimulate investment fields and raise the level of oil production in the country."
He continued by saying that "the oil and gas law will also discuss the national oil companies as it would review the contracts this week, the three licensing rounds."
And that "the Iraqi Council of Representatives Musharraf to any contract to develop oil and gas fields until the adoption of the law of oil and gas."
And the failure of the House of Representatives to pass Bdorth previous oil and gas law, which was expected to rise if approved oil situation.
He called economists earlier in the House of Representatives need to enter the Council an amendment to paragraph (c) of Article V of the oil and gas law relating to the establishment of the Federal service and the voting for the organization of the oil wealth in the country, in order to limit the function of the Federal service to supervise the mechanism of action of the Ministry of Oil and regulate the relationship between them and the provinces.
As indicated in paragraph (c) of Article V to the formation of the Federal Council of oil to facilitate the tasks of the Council of Ministers regarding the adoption of petroleum policy and planning implications which are being prepared by the ministry in coordination and consultation with the regions and producing provinces as well as to develop the necessary instructions for the conclusion of contracts for exploration and production under Article No. 9 This law establishes a body called the Council of Ministers (the Federal Council for Oil and Gas).
The Prime Minister or his deputy, under his chairmanship and membership includes both of the Ministers of Oil, Finance, Planning and Development Cooperation of the Federal Government and the Iraqi Central Bank Governor and a representative from each region, the rank of minister and a representative from each province produced regularly in the region and the executive heads of major oil firms and related and by including the national oil company and the Iraqi oil marketing company specialized experts with oil and gas, finance and economy, not more than three, to be appointed for a maximum period of five years from the decision of the Council of Ministers.
The Ministry of the Iraqi oil for the month of September of last year that crude oil inventories in the country was 505 billion barrels of discovered fields, which total $ 66 oil fields, with total recoverable reserves of 143 billion barrels of oil.
The Iraqi Oil Ministry three rounds of investment licenses for oil and develop oil fields.
Plans to increase Iraq's oil exports during the next six years to 12 million barrels per day after obtaining the approval of the world's oil (OPEC).
http://www.aknews.com/ar/
_Also _
Iraq Oil Ministry: 8 new oil reservoirs in Basra
March 18, 2011
Iraq Oil Ministry: 8 new oil reservoirs in Basra
March 18, 2011
Iraq Ministry of Oil said on Thursday that it made a progress in the project of establishing 8 oil reservoirs in FAO region pointing that it intends to establish 8 others in the same region next year.
South Oil Company said that the project aims at increasing the exportation capacity of Iraq in order to keep up with the scheduled huge increase in production.
http://www.alsumaria.tv/en/Economics...-in-Basra.html
South Oil Company said that the project aims at increasing the exportation capacity of Iraq in order to keep up with the scheduled huge increase in production.
http://www.alsumaria.tv/en/Economics...-in-Basra.html
