Parliamentary investment shell: agreement for the production of 1.8 million tons annually of associated gas



12 billion dollars. During three years, said economy and investment in Iraq, Jawad Al-Bolani to conclude an agreement with the company Shell to raise gas production to 2,000 cubic meter standard daily, only fields for use in petrochemical production project, expected to be the fourth globally in terms of production volume.

And on the sidelines as Bolani hosting its senior industry Ministry Undersecretary Adel Karim, production volume of new project who spotted shell more than $ 12 billion for completion within three years, more than 1.8 million tons annually.

Karim said that the petrochemical project, the South will be the fourth in the world in terms of production volume, and it will be implemented by agreement between shell and five Iraqi ministries of oil, transportation, finance, investment and industry.

And said, quoted by the life, that Iraq was the leading country in the region in this type of industry, but it went out of production decades ago and would produce not to fill local demand but also for export, which will be made by international companies.

Iraq's production will be 3 percent of the global production of petrochemicals, will establish hundreds of local plastic plants, Iraq imported annually nearly 400 tons of agricultural covers only.

He noted that Iraq's contribution in the project will amount to 24 percent and the rest shell, pointing out that annual profits estimated at $ 1.4 billion.

He said that "Iraq has no single gas but gas associated with oil production is currently 3 million barrels of oil annually, but the oil Ministry is planning to raise it to 4.5 million barrels a day, and if we have reached this level up Iraq's gas production to 2,000 cubic meters of natural gas, which is enough to build factories to produce petrochemicals, will compound about 40 thousand people.

She criticized Rep. Nora albegari, the Government's decision to merge the Ministry of industry and companies downsized from 38 to 74, saying current management had failed to manage the Affairs of no more than 6 thousand employees, how to manage "Khumalo with 40,000?.

The industry Ministry has accused the central principle which seeks to terminate in the country, kept the small operators just for being in Baghdad, and merged with giant companies were distributed to the governorates of Iraq, particularly Nineveh and regarded the decision to merge corporate loss factor will be the winner of that loser.

Industry agent defended his Ministry's decision, saying that the sporadic "merge on to independent bodies, this Ministry was working previously, as well as many countries to protect their economies and strengthen their competitiveness in the market, the choice of managers, not randomly, but according to efficiency.

The number of employees exceeds 180, including 40,000 as surplus, mostly appointed after 2003, what corporate campus of opportunity or investment partnerships with international companies for the high cost of production, in addition to energy problems, arguing that the optimal solution is customizing companies.

Morning new 2015

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