In its 21st ordinary meeting held on 9th June 2009 the Council of Ministers-CoM in Iraq decided to propose a draft law which provide every producing province (Governorate) a 50 cent for every barrel of oil produced by it. The decision was said to be a fulfilment of Article 121 sub-paragraph “Three” of the Constitution regarding equitable revenue sharing. Apart from this brief note the CoM website provides no further…
Tag: oil fields
Jabbar Al-Luaibi
Former Director General of South Oil Co and oil ministry advisor Jabbar al-Luaibi discusses in an interview with Ruba Husari in Dubai May 16, 2009 the state of the oil fields in southern Iraq and the reasons behind the recent loss in production capacity at Iraq’s major producing oil fields. Q: You brought the oil sector back from the ashes in 2003 and ramped up production till you achieved…
Iraq Watch – The Need for Clarity
17 October 2008 Iraq finally unveiled the terms of its big upstream opening. International oil companies now realize that to win a 20-year service contract to rehabilitate and redevelop some of Iraq’s giant oil fields, they need to offer it high production targets at the lowest cost. For committing to spend money on rehabilitation of infrastructure and drilling of wells as well as a new reassessment of recoverable reserves in…