Experts stress the need to return the national oil company

Monday, April 3, 2017 - 9:32 AM


Baghdad / Shukran al-Fatlawi in order to develop plans and treatments and conduct a rational governance of the oil wealth in Iraq, which suffers the absence of vision and long-term strategy, which led to the occurrence of many of the problems and structural imbalances in the Iraqi economy despite the high rates of production and export, The policy of oil director of the Institute d. Mehdi Al-Hafez opened the symposium, which was attended by the "morning" and addressed many of the challenges facing the oil policy to be addressed in your preamble on policies and plans mature that contradict previous laws such as Law No. 84 of 1985, which stipulates the importance of economic feasibility and technical before the approval of any project , As well as the importance of reviewing service contracts based on what is stated in the state budget and identify the weaknesses in those contracts and the introduction of appropriate alternatives, not to mention a problem. Iraq's crude reserves of around 153 billion barrels, which need convincing assurances because multiple estimates have created a state of confusion. Al-Hafiz questioned 12 oil fields before being offered for investment by international companies, stressing at the same time the lack of need to offer any oil projects to international companies because of the existence of domestic oil production capacity. Al-Hafiz stressed the importance of re-establishing the National Oil Company because of its importance in achieving the economic benefit expected from it in the current country.

And presented the papers of the international oil experts, Tariq Shafiq and Ahmad Jayyad, which included several proposals and recommendations of great importance, including the futility of the Ministry of Oil's willingness to contract with international oil companies for the purpose of investment, and talk about the offer of 12 oil fields discovered new to the international oil companies , In addition to other fields are developed under the administration of the provinces and in a costly manner, pointing to the importance of the Ministry's focus on the oil fields that were contracted previously in the first and second rounds of licensing to maintain the interest of the country. The two experts are following the futility of announcing the desire to explore the cost-laden maritime space, while the country still has large oil reserves, accompanied by a query and misunderstanding about the expansion of the oil tanker fleet at a time when the country is experiencing a financial crisis. The paper recommended that the Ministry of Oil take the subject of reducing production and other subjects related to international concerns, more seriously than it is now. Manohan Ban on Iraq should consider rejecting any extension of the (OPEC) unless the financial and human sacrifices caused by the terrorist (da'ash) are taken into account, as well as the need to know the indicators that confirm the efforts exerted by Kuwait and Iran, to invest oil fields located on Border with Iraq. But there is nothing to indicate that Iraq is taking real and effective measures to protect the country's interest in these border fields, pointing out that the Iraqi negotiators need more expertise to avoid loss of financial returns that can be derived from these fields, as well as the continued burning associated gas and in increasing quantities As oil production increases, there is an urgent and urgent need to develop serious plans, not just promises, to put an end to the burning of gas. The two experts concluded their paper with the blessing of restoring the National Oil Company to work, provided that its law includes real powers and independence that enable it to be efficient and efficient to manage the production sector and not to be seen as a smaller partner of the international oil companies.

The oil expert, adding oil expert Hamzah al-Jawahri said that the reserve oil reserves, which the ministry's capacity of 153 billion barrels, which soon fell off and returned to the previous figure 123 billion barrels, indicating that the situation now is different to the existence of exploration of new fields, including the field of Saybah, For gas only, but it turns out that it is a very large oil field as well as the field of Sinbad, which is a large field with large extensions reaching the field of Saybah so reserves increased and there is a field of Dima within the ninth geographical area, which extends into Iranian territory. The former head of the parliamentary oil committee, Adnan al-Janabi said: "We have been discussing the contracts for 15 years and it was said a lot of speech and such a thing is no longer important in the presence of contracts signed, pointing out that the measurement is the extent of benefit of these contracts and the discussion of participation rates in Production must be shared between an unknown area and between producing fields and different production ratios, pointing out that the amendments to the contracts were mostly bad but the most important is the control of costs and we must have professional control devices. Al-Janabi said that the failure to approve the National Oil Company's law broke the back of Iraq since 2003 so far and the more we delayed the damage to the country and the people. He pointed out that work on the preparation of an oil law and the oil company began since 2004 and if we succeeded in passing the law could solve many problems Which the country now faces. The participants in the symposium decided to submit a detailed memorandum to the three presidencies and the Ministry of Oil to inform them of what was reached and what are the appropriate proposals for the development of a successful oil policy in the country?

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