11/05/2011
Iraq: a parliamentary committee investigating the oil minister on the licensing rounds
Basra, A member of the Oil and Energy Committee in the Iraqi Council of Representatives Tuesday, all of its host tomorrow to the Iraqi oil minister, Abdul Karim and coffee for questioning over the economic viability of oil licensing rounds.
Said Susan Saad, told the Kurdish news agency (Rn) that "the Commission on oil and energy parliamentary question the economic viability of oil licensing rounds, in particular and the oil ministry is preparing for a fourth round may not add anything to Iraq."
It pointed out that "Oil and Energy Committee decided to host oil minister, Abdel Karim coffee on Wednesday for questioning about the oil licensing rounds, and the economic feasibility of it."
The Iraqi Oil Ministry has recently launched a fourth round of licenses to foreign companies dedicated to invest 12 exploration blocks in the areas of crude oil and gas.
The giant international companies in the energy field has won contracts to extract Iraqi oil reserves through three licensing rounds, including undiscovered oil fields untapped.
Although the Iraqi government predicted the arrival of its crude oil production to about 12 million barrels per day over the next five years, but experts have questioned the production and access to that goal, and said that seven million barrels a day was a reasonable figure.
Saad said that "the investigation will include the feasibility of a full view of what made tours of the advancement of economic reality on the oil wealth, especially that played by foreign companies able to Iraqi companies and engineers do."
And floats on a sea of oil, and has the third largest reserves in the world, after it announced the Iraqi Oil Ministry in October last increase oil reserves by 25 per cent to 143.1 billion barrels from 115 billion barrels.
And exceeded exports of Iraqi oil earlier this year to two million barrels per day ceiling, the first time since its invasion of Kuwait in 1990.
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