Oil: a common fields investment with Iran and Kuwait mp


Baghdad/economy news.

The oil Ministry confirmed that the joint commissions with Iran and Kuwait "not resolved" after the theme of common fields, recognizing that investment unilaterally "hurt", with the Parliamentary Committee on oil and energy invited to "intensify efforts with neighboring countries and take into account new data in those fields.

Iran had revealed (August 4th, 2016), by the President of the National Iranian oil company, Gholam-Reza manouchehri, negotiating with the Russian company to develop oil fields shared with Iraq to increase production and set up a filter, indicating she signed a "secret" agreement with the company to prepare a roadmap to develop the two fields over a period of four to six months.

Oil: invest common fields unilaterally hurt her

He said the oil Ministry spokesman Asim Jihad, there are joint committees to research the cause of common fields with Iran and Kuwait, formed years ago to explore the theme as well as the issue of demarcation ", noting that" Iran and Kuwait are eager to reach a final agreement on the optimal investment of those fields, but joint committees did not complete its work, because there are some outstanding technical issues like border pillars damaged by wars and weather conditions.

Jihad said Iraq, also invests in common fields, including the field border in Badrah, with Iran, and albzerkan fields and change in their work, and developed and exploitation ", adding that" international law allows each State to invest oil fields within the same ".

Jihad said that "Iraq has the right to invest and develop common fields, just like the others has the same right," pointing out that "States always preferred by international agreements, there should be a joint investment agreement with a third party as a global company, so that each party takes its share by field extensions in.

Jihad acknowledged that "unilateral investment hurt the common field because it leads to lower pressure, preferably joint investment and that's what working on Ministry with Kuwait and Iran."

Parliamentary power: one must follow for common fields with Iran and Kuwait through joint commissions

Of the parliamentary Energy Committee Chairman said Ares Abdullah, Iraqi fields with Kuwait and Iran need to maintain agreements and invest serving Iraq. "

Abdullah said that there was "a Government Commission works to reach definitive agreements on common fields with Iran and Kuwait, how to invest but unresolved issue," returned was necessary "to pursue the subject in depth manner through joint commissions with the two neighboring countries, taking into account the new data in those fields.

The Iraqi Ambassador in Iran, Rajah al-Mosawi, confirmed in (18 August 2015), that Iraq sought to invest with Iran in oil azadkan two joint field, pointing out that "negotiations continue between the parties to develop the field.

According to the National Iranian oil company has with Iraq 12 common field containing up to more than 95 billion barrels, the biggest hydrocarbon reserves at one site in the Middle East.

REI experts confirms that relatively simple spaces oil from these fields outside the Iraqi territory, but Iraq is weaker than its neighbours in technology and financial exploitation of common oil reservoirs, especially as he has failed so far to joint agreements with Iran and Kuwait on the exploitation of such reservoirs for reasons including unresolved border demarcation problems.

Kahn said the Iraqi oil marketing company SOMO, Iraq official selling prices for ore Basra lightweight to Asia in September shipments $ 1 to below $ 2.30 per barrel on average price Khami Oman and Dubai from the previous month.

Sumo in a statement confirmed "range", a copy of it, it's "heavy shipments of Basra crude pricing decided flying to Asia in the same month rose 6.40 dollars a barrel below the average price of Oman and Dubai Khami.

And set the official selling price for ore Basra lightweight September shipments to markets in the Americas at Argus index for high-sulphur crude minus 0.60 dollars a barrel, unchanged from the previous month, while the selling price of Kirkuk crude to the US $ 0.80 per barrel above the cursor.

For shipments to Europe crude price Basra lightweight 0.75 dollars to Brent price minus $ 3.95 per barrel rose September shipments of Kirkuk crude to $ 4.05 discount.