Basra: specialists discuss the oil licensing rounds and reconsider its contracts

2015-11-25 18:15:47
| (Voice of Iraq) - Basra

Faculty of Management and Economics at the University of Basra held a panel discussion under the title "oil licensing rounds, new restrictions on the Iraqi economy," the presence of a number of oil experts and a member of the House of Representatives Faleh al-Khazali, as well as the presence of a number of students.

And Dr. Nabil Jaafar said in a statement that the seminar touched on the texts Rumaila oil contract and the contents of huge amounts burdened the Iraqi budget and made him a partnership and not to provide the service.

Noting that such contracts have led to higher dues of foreign oil companies to fifty-four billion dollars during 2014 in order to increase Iraq's oil production capacity to 1.0002 million barrels, a limited increase.

Jafar pointed out that the contracts that made the Iraqi awarded companies that hand longest in the report and the volume of production costs and the level of technology and identification of the expenses resulting from the Iraqi government, and stripped of its oil production policy can not or financial returns or oil control.

Jaafar said that the oil licensing rounds have been drafted legally oblige Iraq to deal with those companies from 20 to 25 years certain texts developed by the legal negotiator for those companies that achieve their interests while the Iraqi legal negotiator could not intervene to those contracts and surrendered her, according to the recipe.

He stressed that Iraq and Saudi Arabia are the most responsible for the deterioration in world oil prices due to the two countries to provide discounts and entering a fierce war in Alaalmihalnaftyh markets.

For his part, oil expert Jabbar Hilfi said that the amendments that could be conducted by the House of Representatives on licensing rounds decades is to end those contracts and deliver the work in the SoC or modify the length of time her (about twenty-five years) to five or six years, ending in 2016.

Noting that the Iraqi government was able to give foreign companies work contracts in the non-oil producing fields and away from producing fields.

So head to the older engineers in the Southern Oil Company Mohammad Sadiq he said that licensing rounds returned the best interest of the oil production process in Iraq, where production rose from the roof of a million and one hundred thousand to more than three million barrels per day.

And between honest in a statement that those in charge of the establishment of this symposium lack of adequate knowledge and information on which was held oil licensing rounds and trying to talk through personal or political or move the visual benefits of the street.

House of Representatives member Faleh al-Khazali, was present at the seminar said that the global system to oil production requiring the payment of $ 15 million for every million barrels producer of oil while Iraq pay more than fifty-four billion dollars for it and this is what needs to re-examine a comprehensive study and necessary adjustments by exploiting legal loopholes in those contracts in order that Iraq not be a loser in the end.

And between Khazali he said in a statement that Iraq is not based on economic minds and taking proposals specialists in the field of oil, but the process is managed with the mentality of a political, not economic.