4 Investment Industry revenues fields for the reconstruction of the southern provinces


March 9, 2016

Drilling an oil well in the national efforts Architecture

4 Investment Industry revenues fields for the reconstruction of the southern provinces

Architecture decade

Basra decade

It ended a new Maysan drilled oil well body in the field of architecture effort and national and indicated it will conduct the process of amending the drilling plan to include the drilling of exploratory wells in favor of Qala district in the local government announced in Basra province for the approval of the Ministry of Oil to invest two oilfields specialty Aiardathma for the reconstruction of the province. The general director of Missan Oil Company Adnan Nochi in a statement yesterday that the (engineering and technical staffs in the company and the Iraqi Drilling Company has completed drilling operations in the building 12 wells in the field of architecture within the drilling plan for 2016).

He pointed out that (drilling operations has in record time and within the prescribed period amounting to 120 days). He added Nochi that (the company will conduct the process of amending the drilling plan to include the drilling of exploratory wells in favor of the castle area and assess the well Dima 1 in the second half of this year, one of the mission and the quality of projects the company, which contributes to confirm the increase in crude oil reserves in the Maysan) fields.

Investment fields

The local government announced in Basra for the approval of the Ministry of Oil to allow the province to invest oil fields, provided the allocation of oil production with revenues for the reconstruction of the province in the oil and gas committee in the provincial council is expected to be the production of the two fields at the borders of 500 thousand barrels Aumia.oukal conservative Majed Nasraoui yesterday that the (local government I got preliminary approval from the ministry to allow the province to invest two oilfields two rivers Omar and brick and soon will hold a meeting in Basra to agree final details on the subject).

Indicating that (the two fields will be revenues and put them into a dedicated fund for the reconstruction of Basra and that the local government will be able to fund strategic projects aimed at reconstruction and development of the province).

He Nasraoui that (the ministry also agreed to allow the province of Dhi Qar investment of one of its oil fields in the same way in addition to the field in Maysan province), adding that the (likely to be involved four fields in one box where those fields revenues are placed and then spent on projects for the reconstruction of the provinces three).

For his part, head of the oil and gas committee in the provincial council Ali Shaddad Knight said in a statement yesterday (local government has moved in two directions to address the financial crisis faced by Basra has moved to persuade the federal government to give the province its share of crude oil rose 5 percent, but did not get approvals on the proposal because he needed legislation) Adding that (second proposal was welcomed by the ministry is serving to allow the province to invest oil fields not covered by the rounds of licenses has received preliminary approvals for the project, which carries oil name in exchange for reconstruction) and pointed knight that (the fields of brick and rivers Omar who located them choose to monetize your maintain their output is expected to reach 500 thousand barrels per day in the future), adding that the (oil companies will take over the development of the two fields and the local government in Basra scheduled to be a party to the contract with those companies).

Link