Oil companies received government proposals to change the production contracts

Union: world oil company British Petroleum in the Rumaila field, provide international oil companies working in Iraq, proposals for amendments to their contract production, stating that the Iraqi oil Ministry, called for reducing expenses for development projects as a result of the deterioration of oil prices.
He said the regional Chairman of the British Petroleum Company for Middle East Michel taonshind told a press conference that "the oil companies have submitted proposals to the Iraqi Government about how Iraq changed oil contracts of service contracts to another formula closer partnerships with production". Taonshind added that "companies receive wages now fees either by cash payment or barrels of oil, according to meet the production ceilings painted", stating that "productive partnership agreements will allow companies to share directly from the crude product". He taonshind that "production from the Rumaila field somewhere between 1.3 to 1.35 million barrels a day this year," Noting that "production next year, will depend on the proportion of spending approved by the Government, which asked the companies to fall next year due to falling oil prices and the Government budget deficit".
The taonshind "difficult to see a rise in Iraqi oil production next year", adding that "negotiations are now about next year's budget draft Rumaila oil ".
Iraqi oil Minister Adel Abdul Mahdi said, on 28 August, the City Government is seeking to reach agreement with the oil companies to find out their plans of reducing spending through 2016.