Iraqi Oil Minister: production rates exceeded four million barrels

By Shunem Abdullah Khoshnaw Two hours ago 14-12-2015

Roudao - Erbil

He said Iraq's oil minister, Adel Abdul-Mahdi, that production rates have seen a big increase exceeded the four million barrels, adding that what was raised recently about licensing rounds is incorrect.

He said Abdul-Mahdi, in a statement issued at a seminar held in the House of Representatives for the oil licensing rounds in collaboration with the Committee of the parliamentary energy under the auspices of the Speaker of Parliament, Saleem al-Jubouri, and received Roudao network media a copy of it, that "the production rates in Iraq have seen a big increase exceeded the four million barrels ".

The minister said, "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 the oil minister, said that "what was raised recently about licensing rounds that cost more than its revenues is incorrect," adding that what came to Iraq from those contracts exceeded US $ 340 billion. "

He said Abdul-Mahdi, that "the ministry is working to codify those contracts in cooperation with the oil companies through negotiation with them," he stated "We confirm that whatever was said licensing contracts came around to save the oil sector."