Oil sector data and the development of institutions

8/13/2016 0:00

Ali Hassan al-Fawwaz

The development of the oil industry and one of the most strategic challenges, and that the development of oil fields policy put these challenges in the context of the face of the serious economic crisis, aside from betting on fluctuating oil prices, the oil ministry is seeking to adopt devote oil economy through negotiation with international companies policy to create new projects, and to expand the ranges to increase oil production to Maetjaoz 4.8 million barrels per day.

Development of oil fields

Negotiations with international oil companies means the expansion of the investment arena, just means the need to develop appropriate plans to develop the oil fields, but within the frameworks require some kind of integration that links between this development and the expansion of the petrochemical industry, which is an imported loop significant pressure on Iraq's economic infrastructure.

And indicated by the site (Bloomberg US) recent economic news on Iraqi negotiations with the oil companies, we find that the Ministry of Oil negotiations with the company (Exxon Mobil), the US, and (Petrojayna) Chinese reflect a shift in the political development of the industry, and within the orientations aimed to put the country in the context of the leading oil exporting countries, and in Iraq to be one of the leading suppliers in important countries such as China.

Neighboring oil policy

The expansion work projects to develop fields of the South's policy also requires talking about the neighboring oil policies, especially in the development of investment mechanisms, on the training of Iraqi talent level, as well as a call to assist in the establishment of universities and research centers for the education and rehabilitation of scholars Iraqis and raising the competence of specialized and professional level the field of oil, down to the creation of residential cities for workers in these fields.

I think that Amatrha Undersecretary of the Ministry of Oil Fayyad grace about these trends is in the right direction, as the negotiations with the Petrojayna Company and Korean Kocaz of the agreement on the construction of a refinery capacity of 300 thousand barrels per day in Nasiriyah comes in the context of strengthening the principle of complementarity in the field of oil industry, and in the expansion of their rings to include other provinces that are working in the oil fields, and in reducing the need to import gasoline from neighboring countries.

Oil and diversified economy

Iraq is dependent on imports of financial oil rose more than 90 percent of the most serious threatening to Iraq's economic and social infrastructure, and the quest to find the dolly economic workshops will approach the future to find additional resources for the national budget .. and because of the lack of material and logistical capabilities to directly draft strategy, the expansion work within the sector oil itself will trend positively to deal with a lot of distortions in economic his system, and in the hiring and invest a lot of his energies wasted, especially Maitalq investment of gas, and increase production capacity, as well as making plans and programs, and realistic policies, which belong to future projects, including complementary projects and manufacturing industries, and across the establishment of petrochemical plants, as we pointed out, in many provinces, as well as the establishment of oil refineries and suitable cards and others.

Expand oil Education

The success of the bet on the economics of oil associated effectively policies and programs implemented, and the development of the work of scientific seminars and national experiences, which means the need to broaden the field of oil Education Specialist and encouragement, as well as a training area for the Iraqi competencies develop, within the agreements that are signed with foreign companies, because the creation of professional Iraqi labor reinforces the Iraqi oil industry path on one side, and contribute to addressing some aspects of the unemployment of art in this sector .. this naturally requires a set of operational procedures, down to formulate the law of oil and gas, which can be a factor protectionist industry legislative frameworks oil, and an important source of development and investment and to organize its work mechanisms away from random, and the agreements that have not been adhered to by the Kurdistan region in particular.

Oil policy success means the success of its programs, and securing the necessary resources will be an important factor in nurturing diversity of sources, and in many industrial areas, including the oil industry itself, which needs great efforts, and to a clear and serious policies, contribute to the development and protection of all the consequences that belong effects of regional and international policies, as well as effects relating to an increase of oil supply and the deterioration of prices in world markets.