Oil stresses the need to make corrections in some oil licensing contracts for the benefit of Iraq
10/29/2015



Follow-up - and babysit - said Abdul-Mahdi, in a statement to a number of media on the sidelines of his visit to the Zubair oil depot in Basra, said that "Iraq will face a big dilemma if disrupted oil licensing contracts and this must be considered a high national perspective and without political posturing."

He stressed Abdul-Mahdi, "the need to make corrections in some oil licensing contracts for the benefit of the Iraqi oil sector," pointing out that "the licensing rounds should not be evaluated to calculate per year are long projects term extends almost for 20 years, the major projects include the spending of millions of dollars." .

The Minister of oil to the "importance that the financial benefits higher than the extraction of oil costs," noting that "when fighting negotiations to modify the licensing contracts, we we're in a positive spirit, because the negative relationship with companies lead to problems and complexities reflect negatively on the Iraqi economy."

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