FT: bureaucratic red tape threaten the future of international oil companies in Iraq

24/02/2014 18:09



Long-Presse / Baghdad

British newspaper promised specialized world's economic affairs, on Monday, that the future of the British company BP in Rumaila oilfield, in southern Iraq, "flawless risk" as a result of the actions "bureaucratic complex" faced by the company there, forcing it to lay off 100 contracted services, indicating That is part of the "many challenges" faced by the major Western oil companies in Iraq threatens plans around the country, "ambition" to revive its oil industry.

According to the Financial Times, Financial Times UK, in a report seen by the (long-Presse), "The future of the company British Petroleum, BP in Rumaila oil flawless risk after being forced procedures Baghdad bureaucratic routine complex company to cancel service 100 contractor important works in the field."

She said the newspaper, "The latest development highlighted the many challenges faced by western oil majors operating in Iraq, which is a negative aspect of the country's plans ambitious aim to revive its oil industry, which is still undergoing development and rehabilitation after years of war and economic sanctions," adding that "Some of the major oil companies facing difficulties in implementing the business in Iraq, thinking originally leave the country forever,"

It quoted the FT, the Executive Director of the Italian company Eni, Paolo Scaroni, was quoted as saying, "It Tell the Iraqi government obstacles routine that draws Western companies", and stressed that the company "Khairat Iraq between lifting those barriers, or it will be forced to withdraw itself from the country."

The paper also quoted informed sources as saying that "the problems started with the company British Petroleum, a few months ago after being stopped by the Iraqi government for the ratification of some important purchases of the company relating to the draft Rumaila, as well as the stoppage of the issuance of visas for foreign staff working there."

She said the Financial Times, that "the company British Petroleum, spoke earlier in February 2014 the current, from the termination of contracts of about 100 contracted expatriate working in the field immediately," indicating that "the Italian oil company Eni had the other, to reduce the number of contract workers with the Zubair field, near the Rumaila oil. "

Continued Financial Times, that "the deteriorating security landscape of the country, accompanied by seeking major international oil companies operating there to cope with the difficult conditions of the contracts as well as the low level of infrastructure that hinder the operations of oil production."

According to economists, the newspaper promised, that "the British Petroleum Company, has signed a victim of the slowdown in the decision-making process and the Baghdad government ministries submitted to parliamentary elections on 30 April next year."

The newspaper quoted an executive director of one of the oil companies, saying that "Everyone is busy election which led to the delay in the process of signatures mission."

Considered Financial Times, that "the decision by British Petroleum BP oil regardless contractors with service overshadows the Rumaila field, which is the largest project her", pointing out that it was a "must company BP, which signed a contract with Baghdad in 2009, to raise the production rates in the Rumaila field to 2.00085 million barrels a day instead of the current production of 1.0004 million barrels a day. "

The company British Petroleum, announced (21 th of June 2013 the past), all taken the necessary actions to reduce their production rates set for the giant Rumaila, of 2.00085 million thousand to between 1.7 million to 2.4 million barrels per day, and stressed that Baghdad aimed at perpetuating its exports at fixed rates for longer by reducing pumping rates.

The company British Petroleum, the British entered into negotiations on the reduction of production since 2012 last year, and in December of that year, said sources from the Ministry of Oil and industrial sources other that BP is about to reach an agreement on reducing production rates set for the Rumaila field to between 1.8 million and 2.2 million barrels per day.

The Rumaila oilfield in Basra province (590 km south of Baghdad), saw in (the 12th of October 2013 the past), attack people on the British and Egyptian workers in it, after being accused of landing the banner of Imam Hussein, which are spread across the country through neighborhoods religious ritual of Ashura, which led to the departure of hundreds of foreign workers of the country, and stop the work of companies operating there before returning to it later, which led to many repercussions, including the postponement of the Conference of the energy future in Iraq and Energy Forum in the Iraqi province of Basra.


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