5 trillion dollars of oil revenues expected during 20 years
31/05/2012 0:00
Conclusion of the licensing round, the fourth day
Baghdad - Qasim Hilfi
conclude the Ministry of oil licensing round, the fourth day to compete for eight patches of exploration, of which 6 patches approved previously, and Riqatan been Tdoaarhama due to late arrival of a number of companies and could not participate in the tour yesterday. and resulted in the tour on her first day on Wednesday, the victory of a coalition of companies, Kuwaiti, Turkish and United Arab Emirates holding investment areas in ninth out of 12 patch of oil offered for investment. and Oil Minister Abdul Karim and coffee during the tour, which was held at the headquarters of the ministry in the presence of Deputy Prime Minister for Energy, Hussain al-Shahristani and the representatives of 47 companies competing: that the total production of Iraq during the the next twenty years will reach 60 billion barrels, and achieve revenue estimated at 5 trillion dollars at is $ 85 per barrel. He said during the ceremony which was attended by the "morning": that the goals of this round is to win, the first being the production of free gas and entry in the gas industry which is a new experience on the ministry to meet the local need and export the surplus of this article, and the second aspect is to increase oil reserves because of its results on the situation in Iraq as a producer and exporter of oil in the world.
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