Experts: establishing a national oil company will reduce the reliance on international companies
On: Sun 11/20/2011 6:35

Beirut - BAGHDAD / follow-term economic
Confirms the experts in the field of energy need to form a national oil company would reduce the excessive reliance on foreign companies in the earlier concluded contracts with the government, energy companies, a global giant to develop 11 oil fields discovered but not exploited through three rounds of licenses.

The government says that these deals would raise the country's production of crude oil to 12 million barrels per day by 2017 from 2.8 million barrels per day currently. Ignoring the dumping of oil, which will be witnessed by the oil market for high production in Iraq and on the sidelines of the conference held by the organization "Parliamentarians Against Corruption" in Beirut for oil in Iraq, said a Swiss expert in the field of oil Stasevs House, according to (Rn) that "the formation of the national oil company will contribute to the protection of Iraq's dependence on international companies. "
The House that "there is an urgent economic necessity to pass a law to begin with a capital of the company's work borrows from the Ministry of Finance, which will reach the country directly to the profit and inventory control management and assist in the implementation plans of OPEC."
He went home "to be for the government to determine; Is that the rights to extract minerals exclusively by the company or whether it shares the company of other international and how much of the ownership percentage of the state."
The government had announced in August / August of 2009 it had approved the draft law on national oil company, and submitted it to the House of Representatives, but the company had not been established yet and there are disagreements on how to manage the oil wealth in the country.
He sees Mahdi Al-Hafiz "The establishment of the national oil company to be not to oppose," noting that "this company would be if the law was passed that established a trading company dealing with the oil ministry also deals with Shell, Mitsubishi and other international companies and give a percentage of its imports to the Treasury the state. "
For his part, President of the Commission on oil and energy parliamentary Adnan al-Janabi, according to (Rn) "There are no fears that this company is the Ministry within the Ministry of oil and it will address bureaucratic problems experienced by the oil projects."
Janabi told "works of national company law not to drain resources by investing in high-risk projects as it will contribute to the protection of support to the private sector in an organized and clear."
According to the Commission on oil in the House that it has developed an integrated study for the national oil company, which will be assigned to the tasks according to a draft law on oil resources, supervision and follow-up projects.
In regard to the production fields, the South said the Executive Director of Shell Stsevs Chrind according to (Rn) that oil production in the Majnoon field was 76 thousand barrels per day.
Chrind added: "The production of the Majnoon field was 76 thousand barrels per day instead of 75 thousand barrels."
He pointed out that the company take the two dollars on each barrel of oil from the Majnoon field, the end of next year after production is 170 thousand barrels. "The company can not exchange a single cent without the consent of the government and they are working to lower the financial resources in Iraq."
Iraq signed a series of contracts with international oil companies to increase production capacity to 12 million barrels by the year 2017.
Recently, Minister of Oil Abdul Karim and coffee that the goal is to reach a production capacity of Iraqi oil to between eight million and 8.5 million barrels a day, and would be more appropriate than the current target of 12 million.
Occupies in OPEC's fourth-largest oil reserves in the world and oil imports are about 95 percent of the country's financial budget. %3Dview%26id%3D51733