Transparency Initiative to monitor oil contracts: Iraq's position will improve in file corruption
08/12/2011 10:33

Baghdad, 8 December / December (Rn) - The National Secretariat for the initiative of the Extractive Industries Transparency in Iraq IEITI the completion of the first report of the Extractive Industries Transparency for 2009 will be issued soon for the flags and through its results will improve the situation in Iraq of international peace corruption positively.

He said the Secretary-General of the initiative Alaa Mohi-Din told the Kurdish news agency (Rn) announced today that "there is a significant increase of international companies to enter Iraq's oil because it contains oil reserves among oil-producing countries, as another country is likely to run out the oil, through the availability of reserve Excellent not consumed during the the past decades as well due to the circumstances of war, siege, and others, and found about 143 billion barrels. "
And about the importance of initiative and said that "the national initiative that monitors and match the contracts with the financial revenues of the extractive industries (oil and extractive industries and all other metal Maystkhrj from the earth, including fisheries)."

He added that the "important in the initiative over the transparency of oil contracts by matching these contracts in terms of actual production source with the financial returns after the Iraqi government committed all the companies in cooperation with Transparency Initiative. Because there is (30) state working to implement the initiative and over (42) Company of the major oil companies, gas and mining global bound. "

He explained that "these contracts and reports matching public to know the citizen and the market of international economic over the stability enjoyed by Iraq, which brings significant benefits in terms of attracting investments, expertise and human development, according to all that the stability of the national income and its development and which gives a strategic and planned national sources of accurate returns for development of national strategies for the development of Iraq away from the (mafia) corruption. "

Mohiuddin and defended as a reason for Iraq in the last third of the ladder of corruption in 2010, saying "unfortunately there are a lot of the information required for Iraq that authorities could not get it for some reason and they put zero in front of which the cause of this result is late."

And on the status of Iraq's oil industry said that "Iraq is a leading countries to disclose the mechanism for determining the price of sale, and qualified companies to purchase Iraqi crude oil, according to global standards of measurement, and the bright aspects of transparency that reflect them."

The number of companies that contracted with the oil ministry 35 companies eligible to contract with the Iraqi state according to the contracts of new licenses within a new model in coordination with the investment companies, and is expected to arrive in Iraq's oil production during the next four years to 12 million barrels, and so superior to Saudi Arabia also becomes at the top of the oil producing countries invest all its oil fields.