Increased risk on the oil contracts in Iraq after the revolt the oil sector
The insurgency in Iraq's oil sector, controlled by the state and the growing pressure on local Minister of Oil, more risk on special agreements giant oil fields on which they intend Major oil companies bidding to win the development later this month ..
May find themselves owners of the winning bids idle because of partnerships with non-Iraqi parties Willing to cooperate in each of the country's northern Kurdistan region in the south, following the Criticism of the agreements ..
And not to a major global oil companies little choice but to compete in any event, even Contracts for fear they could be a drain on resources ..
The Alex Foundation Masarun analyst at Wood Mackenzie, "There are a lot of But the size of the potential risks before the largest reserves of any other reserves in the World . .
"It is for this reason alone would be all the major oil companies that compete Projects".
It is the intention of Iraq to establish a bidding round, especially on the service contracts of six of the largest fields Oil on 29 and 30 June represents the first major opportunity in decades for the exploitation of the third Largest oil reserves in the world. he trip includes a non-gas fields are also taking advantage of ..
The round is the cornerstone of Iraq's plans to increase production to six million barrels Per day from 2.3-2.4 million barrels per day in five years. Iraq needs to Oil revenues to rebuild after decades of conflict ..
It is due to Oil Minister Hussain al-Shahristani, a parliamentary questioning on Tuesday. And questioned by some in the lower house of parliament that the contract is in the interest of Iraq and want to To oust him ..
The recall came after the parliament for Shahrestani objected to the Southern Oil Company, which produces Most of Iraq's production of crude oil on the first round of the award of contracts because it Producing fields, including the Iraq spent nearly eight billion dollars since the invasion The U.S. in 2003 ..