Archive for the ‘2005’ Category
8 July 2005
Iraq’s South Oil Co. (SOC) is launching a handful of pilot production projects at oil fields in southern Iraq, in an attempt to compensate for declines at its large producing fields, according to local industry sources. The big-field problems have been exacerbated by a lack of funds for drilling new wells and working over existing wells, as well as delays in implementing water injection projects.
The major fields of North and South Rumaila, Zubair and West Qurna currently account for 70% of Iraq’s southern oil production, estimated …
25 July 2005
As an Aug.15 deadline approaches for agreeing on a final draft of Iraq’s new constitution, Iraqi officials say the document should be ready for debate by a special committee next week, to be followed by the National Assembly.
However, agreement remains elusive on how ownership and management of Iraq’s vast oil resources should be formulated in the draft constitution, a member of the constitutional drafting committee told International Oil Daily Friday. Three options remain under discussion.
“A draft will be presented to the National Assembly in the …
24 August 2005
Iraq’s new draft constitution, which is awaiting a final vote by the National Assembly, offers significant power to the country’s many regions in determining how to manage Iraq’s oil wealth. The draft copy of the constitution, however, remains vague on major issues regarding oil policy and future investments, opening the way to different interpretations and possibly disputes which could delay the opening up of Iraq to international oil companies.
The National Assembly received a draft copy of the constitution Monday night, but last minute horse trading among …