Mr. Adel Abdul-Mahdi: 3.1 million barrels a day exported from the center and south and reduce spending fields

January 19, 2016 18:07

Oil Minister Adel Abdul-Mahdi said the export of oil for the month of January the current rates of more than 3.1 million barrels per day from the middle and south fields, stressing the need to reduce spending in the development of oil fields projects.

According to a statement of the ministry, he said that "Abdul-Mahdi, presided over a meeting of the committees shared departments of oil fields operating within the oil licensing rounds decades, and Ocd the need to harness all the efforts and capabilities to achieve the planned objectives to increase national production of crude oil rates and thus contributing to the achievement of fiscal revenue to cover the deficit made in the federal budget as a result of lower oil prices in world markets. "

He explained that "The ministry is looking to reduce financial expenses of foreign oil companies operating within the service contracts, stressing the need to adopt a uniform policy in handling and dealing with all international companies, as well as work hard to provide the appropriate investment environment and to achieve the goals of the ministry.

The meeting discussed several points in his agenda, including budgets own fields licensing rounds for 2016 and plans for development of the final, were also discussed Article 26 of the service contracts related to employment and training of modern technology and infrastructure projects and transport, as well as allocations for social services and infrastructure projects to the provinces, which includes fields oil was emphasized the need to develop a real vision for these projects by local governments.

The meeting discussed, according to the statement, the mechanism of selection of members of the committees for joint management and professional standards and the powers and role of observers in the committees of representatives of the Office of the Inspector General and iOS, as discussed crude oil transfer agreements and protocols output measure the state of the ratification of the secondary contracts and the extent of the application of the extractive companies the decisions of the joint management committees.