Economist calls for a legal study of oil and gas in a scientific manner

Sunday, January 22, 2017 - 10:31


Counting economic analyst haven legal secretary of oil and gas, which currently Tdershma government as a prelude to raising them to the House of Representatives, one of the important laws that believes in Iraq's economic future, calling for their study in a scientific and thorough fact that Iraq has confounded tremendous amount of oil and gas, and that any defect Baleghanonin means a waste of money generations next.

The secretary, that "Iraq is the fifth largest in the world in oil and gas reserves, which are preparing a hub for the economies of the world at present and the near future and it should be the investment of these two elements is guaranteed not wasting money and energies that are the property of the next generations of Iraq."

"The laws should have them be agreed during the previous parliamentary sessions, but the difference in the form of investment and the share of the federal government's share of the regions as well as other technical problems stood in the way before the issuance of this bulletin," pointing to "the need for the laws that includes a savings ratio of oil and gas revenues investor to future generations to benefit from them in the processes of economic advancement and secure future. "

He said the secretary that "the laws are aimed at developing the oil and gas industry to achieve real growth in the economic reality of Iraq, which will lead to opening up new doors of income generators and production projects contribute to create new jobs and reduce imports and improve living conditions for various categories of people."

He called on the secretary to the government, "the study of the laws in a scientific and prepare plans to take advantage of them and not wasting money and energies and wealth in the most useful projects for them, considering that the wealth of Iraq is not the king of the current generation, but rather are the property for future generations."

Iraq is the fifth country in the world reserves of natural gas, which amounts to 131 trillion cubic feet, with a total reserve of associated gas 98.3 trillion cubic feet, and also is the fifth global oil reserves, as has more than 141 billion barrels of oil in its territory.

The Oil Ministry announced yesterday, sending a legal draft of the two oil and gas Aloutnettin to the General Secretariat of the Council of Ministers.

http://www.imn.iq/archives/114350