12/13/2015 19:44

Oil: What entered Iraq from licensing rounds exceeded $ 340 billion

BAGHDAD / obelisk denied Oil Minister Adel Abdul-Mahdi, Sunday, news circulating that the cost of licenses exceed revenues rounds decades, pointing out that what came to Iraq from those contracts exceeded $ 340 billion, as he emphasized that oil production in Iraq surpassed the four million barrels of oil.

Abdul-Mahdi said during a press conference at the parliament building, he said that 'what was raised recently about licensing rounds that cost more than their revenue is not true', pointing out that 'what Iraq's income from those contracts exceeded US $ 340 billion'.

He said 'we are working today on the legalization of those contracts in cooperation with the oil companies through negotiation with them', pointing out that 'production rates in Iraq since 2003 until 2009 was not more than two million and 400 thousand barrels, and if we add Kurdistan, the production rates of four million and 300 '.

He said, 'Iraq the fourth country production and exports from the third hand, this site was occupied by Iraq deserved', stressing that 'licensing contracts whatever was said came around to save the oil sector'.