Government committed to the region's oil contracts with Exxon Mobil
On: Sat 11/26/2011 6:27

BAGHDAD - Sulaimaniya / follow-term economic
Kurdistan's government said it stood by its investments according to the merits of the oil on the Constitution, called businessmen Krdstaon of the Emirate of Sharjah to enter the investment market in all parts of Iraq and the Region in particular.

The head of the Kurdistan Regional Government, Barham Salih, to maintain the contract, which the Government signed with Exxon Mobil, stressing that the province would not give up their constitutional right to manage its resources of oil and investment projects, also called the federal government in Baghdad to see Iraqi constitution, which guarantees the rights of Kurdistan in this area.
Saleh said in a press statement Sulaimaniya: The contract signed with Exxon Mobil to do Ptnguibat and research in the oil sites in the Kurdistan Region do not blemish it by the law of oil and gas in Iraq and the Constitution, "adding," There are different views on the subject in Baghdad, but there are discussions to resolve the direction of the interest of the Iraqi people. "
Saleh added that "has been asked many questions and discussions during the negotiations with the U.S. company," explaining that "the attitude of the U.S. State Department was clear and precise, he stressed the need to take into account the oil law and the Constitution Iraqis during a search its legal problems and political implications of any contract to be signed with any Party in Iraq. "
Saleh said, "If there are people in Baghdad believe that we Sntkhaly for the constitutional right in the management of our oil wealth or investment they are wrong," calling them to "reconsider the Iraqi constitution, which stipulates clearly the rights of Kurdistan in this area," he said.
The odds between the KRG and the central government in Baghdad over oil fields in the north. Where is the recent contracts signed between the Government of the region and international oil companies illegal.
The deputy prime minister for energy Hussain al-Shahristani has denied, in the November 12, 2011, approval of contracts for oil exploration venture between Exxon Mobil and the Kurdistan region, stressing that the ministry informed the company in refusing to sign these contracts, while refuted the Ministry of Natural Resources in the Region matter, stressing that the semi-autonomous northern region signed an agreement with U.S. oil company on 18 October 2011 on six sectors to explore.
The Oil Ministry announced on November 17, 2011, that Exxon Mobil would lose $ 150 million by the contract with the Kurdistan region, as indicated that the company did not respond today to such contracts, confirmed that the oil and gas law if passed will not confer any legitimacy on the contract violation , as the company warned of the dissolution of the contract signed with them earlier to develop the West Qurna field in Basra.
The head of the Kurdistan Regional Government Barham Saleh announced in the November 13, 2011, in agreement with the central government to raise the region's oil exports to 175 thousand barrels per day.
Iraq seeks through the development of oil fields and presented to the international companies, to reach a production of at least 11 million barrels per day, during the next six years, as well as 12 million barrels per day after the addition of the quantities of the other fields of national effort.
In the meantime, he called economists and businessmen from the Kurdistan region of economic activities in the UAE to invest more in Iraq in general and the Kurdistan region in particular, stressing the availability of many unique opportunities.
And visit the UAE each of the Chairman of the Chamber of Commerce and Industry and Chairman of the Union of Erbil Chamber of Commerce and Industry Kurdistan Region, and Vice President of the Federation of Iraqi Chambers of Commerce for the purpose of stimulating UAE companies to come to the local labor market.
The head of the delegation Dara Jalil Khayat during a meeting with the President of the Economic Development Department in Sharjah, Ali Salem Al Mahmoud: We call upon the events in the UAE to invest more in Iraq in general and the Kurdistan region in particular where there are many unique opportunities, stressing the need for a strong partnership between the two sides, and benefit from the various investment opportunities available in the light of the availability of incentives and guarantees enhance the success of the establishment of various projects.
For his part, reviewed the charge of the UAE during the meeting facilities offered by the Department of Economic Development to investors, explaining the investment climate in the UAE in general and the Emirate of Sharjah in particular, in addition to a strong infrastructure, pointing to the "ease of procedures and the use of latest technologies in the extraction of business licenses and provide quality services for business and investors. "
And Ali Salem Al Mahmoud said that the Emirate of Sharjah, "offers many of the facilities and opportunities for the investor, thanks to having to provide the elements of success for both projects was chosen for the free zones or industrial zones and economic."
He pointed to the strategic location of the Emirate of Sharjah and is owned by "competitive advantage", pointing out that "Iraq was and remains an important trade partner, and here comes the importance of the visit the delegation of Iraqi Kurdistan, which is in the interests of both sides, where the aim of all to work to increase investment and trade and creating new horizons reflect the depth of the relations existing between us. "
He commendable that the Emirate of Sharjah, "In the context of the overall direction of the UAE has worked and still works to open the door to greater cooperation with Iraq - the Government and people - and to help in the process of building and construction and have had many initiatives, including the host Business Forum UAE Iraq under the slogan" Partners in Development ", alluding to the signing of memoranda of understanding, joint," which represents the basic themes in the development of cooperation and the development of relations between the two sides on all levels and areas, "stressing that the visit would" contribute to strengthening cooperation between Sharjah and the Kurdistan region.