View Full Version : Parl: Bill to establish Iraqi company to extract oil from all country, Kurdistan

Hue Mi
08-10-2013, 05:59 PM
One of the oil fields in Iraq

The parliamentary energy Unveils Bill to establish an Iraqi company to extract oil from all over the country, including Kurdistan (http://www.almadapress.com/ar/news/16144/%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86%D 9%8A%D8%A9-%D8%AA%D9%83%D8%B4%D9%81-%D8%B9%D9%86-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D9%84%D8%AA%D8%A3)

Author: MK
Editor: BS, NF
13/08/10 12: 57
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Oil and Energy Commission revealed, on Saturday, on a draft Bill to establish a national oil company to be supervisor of extracted throughout Iraq, including the KRG, and confirmed that the draft submitted to the Presidency and will be discussed after the Eid al-Fitr holiday, noted that "the company will be 100 percent Iraqi, without foreign contribution".

He said the decision of the Committee on oil and energy Qasim Mohammed (term), "completed in oil and Energy Committee, to discuss the draft law establishing a national oil company, and was finalized to the Presidency," he said, adding that "the draft will be discussed in the House of representatives after his appeal after the Eid al-Fitr holiday."

Mohammed said that "the company will be 100 percent Iraqi, without foreign contribution, will have a capital", pointing out that "the size of the capital will be determined during the debate in the House of representatives, will also work within multiple oil and gas extraction".

He drew the Rapporteur of the Committee on oil and energy, "the company's headquarters would be in Baghdad will be the supervisor of oil all over Iraq, including the KRG".

The Iraq national oil company does not have, and there are some companies that operate under the umbrella of the Ministry of oil, such as SOC, NOC, and Maysan oil company, southern oil was founded in 1969 after the 2003 Iraq turn to foreign oil companies to invest in Iraqi oil through a number of rounds.

Iraq's crude exports from Basra and Khor Al-Amaya port on the Persian Gulf, as well as to the Turkish port of Ceyhan on the Mediterranean, to be exported by tankers to the Jordan and Iraqi exports from Basra oil 90%, while the remaining exports of Kirkuk crude, Iraq produced about 2 million and 700,000 barrels of crude a day and exports approximately two million and 200,000 barrels a day.

Iraq seeks through the development of oil fields in the first and second rounds of licenses, for a production of not less than 11 million barrels per day within the next six years, to 12 million bpd after adding the quantities produced of other fields in the national effort.