Shahristani defends oil licensing rounds and criticizes the "skeptics"

2015-12-17 21:56:30 | (Voice of Iraq) - Baghdad

The Minister of Higher Education and Scientific Research, Hussain al-Shahristani, on Thursday, that the licensing rounds achieved additional revenue to Iraq by $ 148 billion over the past four years, revealed that overall I got the oil companies through service contracts in that period is less than a billion dollars, and with criticized the "skeptics" of those contracts, he noted that Iraq would have been paid more than $ 19 billion for companies in the event of partnership contracts follow the system.

Said Hussein al-Shahristani, during an economic seminar entitled (the pillars of the Iraqi economy and its challenges) was held at the headquarters of the Ministry of Education, the center of Baghdad, and attended (range Press), said that "Iraq has sought over the years to develop oil fields through the so-called tours licenses through investment."

The al-Shahristani, that "the development of those fields has achieved additional revenue for Iraq during the past four years by $ 148 billion," pointing out that "the amount of what I got those companies profits through service contracts is less than a billion dollars by 0.06% of the additional revenue achieved by the Iraq".

He criticized al-Shahristani, "skeptics tours licenses and who have called for the signing of partnership contracts, not service contracts," noting that "Iraq would have been paid $ 19 billion in the event of signing partnership contracts from oil companies along the lines of the contracts signed by the Kurdistan region."

The Commission on oil and energy in the House of Representatives attacked, in (13 December 2015), the Ministry of Oil because of licensing rounds which it signed with foreign companies contracts, and confirmed that the contract was extended from 20 to 25 years and reduced the government partner's share, while the ministry blamed the high production costs Oil because of those contracts.

The international oil company BP, working in the Rumaila revealed, in (November 10, 2015), to provide international oil companies operating in Iraq proposals to the Iraqi side, to make adjustments to their contracts productivity, indicating that the Iraqi Oil Ministry, demanded to reduce development projects expenses as a result of the deterioration of oil prices.

The Iraqi Oil Minister Adel Abdul-Mahdi confirmed, on 28 August, of the city of Amarah that the government is seeking to reach an agreement with the oil companies to find out their budget plans for cutting back on spending power through 2016.