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Thread: Skinner announce the reasons for disengagement from the oil fields of southern Maysan

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  1. #1
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    Default Skinner announce the reasons for disengagement from the oil fields of southern Maysan

    Skinner announce the reasons for disengagement from the oil fields of southern Maysan

    BAGHDAD - Iraq votes 28 / 06 / 2008 at 00:07:44


    Announced the official spokesman for the Iraqi government to Skinner, Friday, the details and reasons for Aqrarcil ministers on June 24 in June 2008 to transform the Maysan oil fields to a public company linked to a lifting of the South Oil Company.

    A statement by the official spokesman for the government received the Independent News Agency (Voices of Iraq) a copy of which was that "the cabinet had decided at its meeting Tuesday, June 24 June ongoing conversion of the Maysan oil fields to a public company linked to a lifting of the South Oil Company."

    Skinner added that the Council "to begin to take the necessary action to implement this resolution based on Article 4 of Law No. 22 of the companies in 1997."

    Skinner explained that this decision "comes in response to the demands of work and for the purpose of expanding the oil business in the general area of Maysan To achieve optimum utilization of fields, especially their border," noting that "the transfer of Maysan to the fields of public companies would lead to grant sufficient powers to manage the oil region-specific events, and to ensure Implementation of the responsibilities of the company is efficient. "
    Skinner pointed to the diversity of activities and events in the oil region of Maysan best geographical area covered, as well as developments expected soon regarding their fields and are currently non-productive structures recently discovered, in addition to completing projects for the exploitation of associated gas, which burn waste at the present time.

    He said they all "require the presence of an integrated and effective structure to focus and follow-intensive field and good governance to achieve the objectives and completing the implementation of plans and benefit and direct coordination with the Ministry's headquarters, in addition to that enjoyed by companies operating factors of powers and flexibility in management and implementation."

    Skinner also pointed out that it was hoped that "leads to the formation of the company's implementation of the mechanisms required for the extraction sector in this province which had been neglected and marginalized for decades," adding that "the powers of the company's independent and responsiveness in providing materials and supplies necessary backup will certainly overcome low levels of current crude oil production In Maysan and raises levels. "

    Skinner formed company promised to be "will contribute effectively in time of the tasks of maintaining national wealth in the fields involved in the border region."

    He revealed the company's capital is proposed that "of more than 9.5 billion dinars, will be one of the formations operating within the extractive sector in the Ministry of Oil, which includes duties and events extraction, production, treatment and disposal of crude oil and associated gas in fields that fall within its responsibility, and also include Export oil through the ports of Basra and Maysan refinery processing crude oil, in addition to processing power stations in crude oil and gas. "

    Skinner also pointed out that "the company would coordinate with international companies to develop fields-developed and developed in part aimed at increasing production capacity and in coordination with the Ministry of Oil."

    The geographical area of Maysan province containing 6 producing fields are Albozorkan and Abu West and Fakkah and Ahalfaye and architecture in addition to field joint crazy with the South Oil Company, also containing 5 Mcetkchwh fields and unproductive and which fields Hovaiza Rifai, Rafidain and Al-east and the Dead, where the current production capacity is 100 to 110 thousand barrels a day.

    Skinner also mentioned that the objectives of the company's ascent to energy production during the next 5 years to 360 thousand barrels a day

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  2. #2
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    Default

    This is refering to the new Iraqi National Oil Company (INOC) which is part of the HCL Package.
    "There are plenty of reasons NOT to buy the Iraqi dinar this year, and plenty of great reasons to buy renminbi instead. So I say stick to the currencies that have value, and leave the dinar for the speculators who don’t know any better." Sean Hyman
    Editor, Currency Cross Trader

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