Abdul-Mahdi: Iraq's fourth globally in oil production and seek to legalize licensing
Abdul-Mahdi: Iraq's fourth globally in oil production and seek to legalize licensing contracts
12/13/2015 0 Comments
Denied Oil Minister Adel Abdul Mahdi, on Sunday, to be oil production cost through licensing higher material yield rounds, and pointed out that Iraq's income from the year 2009- 2014 exceeded $ 340 billion, and among Iraq to legalize oil contracts seeks cooperation with oil companies , he stressed that Iraq had reached Ranked to fourth globally in terms of production.
The oil minister said at a conference held in the Parliament and attended (range Press), he was "raised in the recent talk of licensing rounds and that cost her more than payback," noting that "Iraq depends on oil resources and exceeded his income since 2009 to 2014 the barrier of 340 billion dollar. "
Abdul-Mahdi said "we did not pay only 10% of this amount and the talk about high production cost in exchange for financial return is incorrect," pointing to "the ministry has sought to codify these contracts in collaboration with the companies to negotiate with them."
And between the zapper oil that "the Iraqi oil production rates and since 2003 was no more than 2.4 million barrels while exports from the south increased from 3.7 million barrels and two days before approaching 4 million barrels," noting that "Iraq is the fourth production in the world and third in exports hand" .
He added that Abdul-Mahdi, "to save the licenses for the oil sector contracts," describing keep the oil sector to "previous methods of production and falling behind, in what is for our own giant companies that work great national effort."
Iraq is seeking through the development of oil fields in the two rounds of licensing the first and second, to reach a production of at least 11 million barrels per day, and to 12 million barrels per day after the addition of quantities produced from other fields of national effort.