Iraq's cabinet will vote next week on the third oil licensing round
An adviser to Iraqi Prime Minister's outgoing Economic Affairs, The Council of Ministers will vote next week on the third oil licensing round.
Salam al-Quraishi, a Kurdish news agency (Rn), Friday, "The Council of Ministers included on its agenda for the meeting next Tuesday to read the contracts concluded by the Ministry to develop oil and gas fields Mansourieh crutch and Ciba."
The licensing round, the third oil, which was launched on 20 October Oktobralamadi resulted in the winning consortium of Kuwait broad social mission, Kuwait T-NBA or Turkish investment field Saybah invasive south of Basra, and Vozaitlav company Kazalcazakstanip Inc. Kocaz Korean investment of the crutch in Anbar province, while the field Mansourieh gas in Diyala province, a coalition of the share of firms Petroleum International, which share 50%, and "Kuwait Energy," and has 30% of the project, and "Korea Gas Corp." (036460.SE) and have 20% of it.
And Quraishi, "The Iraqi government will vote positively on the gas contracts the initial order to activate the gas investment in the country and the development of production after the time of neglect," noting that "the government is trying to bridge the gap in views between the provinces objecting to the gas investment and the Oil Ministry with an emphasis on the management of these fields of competence of the Ministry of Oil exclusively. "
He pointed out that the Quraishi, "The Oil Ministry made positive steps to develop oil and gas in the country despite the lack of adoption of a special law that regulates the process of extracting oil, gas and exported by the Iraqi Council of Representatives the past."
Iraq seeks to develop and reality of the oil through the establishment of licensing rounds and encourage foreign companies to invest oil and gas in the country, especially after the oil ministry announced that Iraq has the third Okpraaniati of crude oil in the world is estimated at 115 billion barrels after Saudi Arabia and Iran.
And exceeded exports of Iraqi oil earlier this year to two million barrels per day ceiling, the first time since its invasion of Kuwait in 1990.
Iraq held two rounds of last year licenses to invest in oil fields resulted in winning several international companies of different nationalities to develop ten fields in different regions.
Iraq seeks to access the oil produced within the next six years to the roof of production ranges between 10-12 million barrels per day in accordance with the licensing rounds, entered into with international oil companies.
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