Al-Shahristani announced that the volume of investment returns oil would approach 200 billion dollars a year
Author: HM
Editor: NK | MN
Saturday, 12 k 1 2009 16:07 GMT 1292
http://www.alsumarianews.com/
Alsumaria News / Baghdad
The Oil Ministry announced at the end of licensing round investment of Iraqi oil fields Second, the volume of investment in oil fields will reach 100 billion dollars, with oil revenues by about $ 200 billion annually, while adviser said the Cabinet that the Council has no reservations about the fields that are won by investment firms.
He said Oil Minister Hussain al-Shahristani on the sidelines of the conclusion of the second round of investment licenses, which took place over two days and ended on Saturday in an interview with "Alsumaria News", "The ten fields won by the oil companies, three oil fields in the first round of licensing and seven oil fields in the reached the second round of licensing investment of approximately $ 100 billion. "
Shahristani said that "this investment will bring to Iraq, the financial returns of up to $ 200 billion annually in light of current prices, regardless of the expectation of higher price per barrel of oil during the coming period," indicating that "the proceeds will be allocated to rebuild Iraq," as he put it.
The Iraqi Oil Ministry signed two contracts in the second and third of last month was the first with a consortium of companies (BP) British and the Chinese National Development Rumaila oil, and the second with an international consortium led by Italy's ENI to develop the field Zubair, also signed an initial contract on 29 October the past with Exxon Mobil Corp. and Royal Dutch Shell Group to develop the West Qurna field.
They competed a major international energy companies to win the first licensing round in July 2009.
The Minister of Oil that "what is accepted today in the second licensing round for oil fields of the seven won by a group of companies, is expected to raise Iraq's production of crude oil increased by four million and 765 thousand barrels a day."
The Oil Ministry announced during the second licensing round, which began on Friday and lasted for two days, the victory of a coalition Dutch Shell and Malaysia's Petronas to develop Majnoon oil in the province of Maysan, a coalition of business, with his CNBC Chinese and Malaysian Petronas and France's Total to develop the field is also a fact Halfayah in the province of Maysan.
The coalition won the Russian company Lukoil Oil Stadium and the Norwegian investment in West Qurna stage II, and has won Snegul investment in the field star, which is located in the province of Nineveh, and the coalition won the Malaysian company Petronas and JAPEX Japanese investment in the field of Gharraf in the province of Dhi Qar, and finally won a coalition of business Kaz Akrum Russian, company ITP or Turkish, and Korean companies to invest Ko Kaz field Badra border in Wasit province.
He pointed out that al-Shahristani, "the production of three fields, which were transmitted to some of the companies in the first round of licensing a Rumaila and West Qurna and Zubair fields, would amount to six million and 400 thousand barrels per day, in addition to Iraq's current production, which amounts to مليونين and 500 thousand barrels per day from oil fields other, what would make Iraq's production of crude oil total to more than 12 million barrels a day, during the next six years, "adding that" Iraq will be at the forefront of Petroleum Exporting Countries during the next few years. "
Egyptian Minister of Oil that "prices provided by the companies to invest in these fields is very acceptable from Iraq, there are no companies applied for the development of ideals of any other fields in the world," noting that "the winning companies in the licensing round of the first and second distributed in Asia, Europe, America and Africa" .
The winning companies in the first round of licenses and the second had submitted bids to develop oil fields at prices ranging between $ 15 and six cents per barrel of oil.
For his part, chairman of the State Counsel of the Council of Minister Thamer Ghadhban said in an interview for "Alsumaria News", "The Council of Ministers has no reservations to the oil fields that were presented today to invest in the second licensing round."
The Anger that "the oil fields included in the second round of licenses are required fields and non-productive and there is a near consensus on the need to hire international oil companies to develop," he continued saying, "The reservations raised on the tour was the first formal licenses do not affect the nature of the contracts signed by the Ministry of Oil these companies with the initials ", he said.
The Oil Minister Hussain al-Shahristani, was announced at the end of December 2008 the start of the competition for the second session of the licenses of ten fields from Iraqi oil fields of 78 fields, which included the West Qurna and Saybah in the province of Basra, Majnoon and Halfaya in the province of Maysan, Dhi field Gharraf Qar, and a field ensured the coral in the Middle Euphrates, and a field east of Baghdad, and a field Qayyarah and field star in Mosul, and the field of Badra in the province of Wasit, and fields in eastern Diyala province.
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