Oil clarifies the nature of its agreement with Total
economic Last update 02/14/2022 | 10:21 PM
Information / Baghdad...
Today, Monday, the Ministry of Oil issued a clarification about its agreement with Total, while it denied any failure in it.
And the ministry said in an official clarification received by / the information /,: “At a time when the Ministry of Oil confirms its keenness to implement the contracts that were concluded within the agreement with the international company Total, it denies news and press reports that indicated a stumbling block in the implementation of the agreement, and the ministry expresses its astonishment at the The press and media reports include inaccurate information, and stress the need for news sources to be impartial and professional.”
She explained that "this agreement includes (4) major contracts that include paragraphs and partial and complex commitments, which require some time to complete, and cannot be implemented or resolved in tight timing, including the paragraph of national oil participation by (40%) in it according to the decision of the esteemed Council of Ministers, which requires consensus. Between the two sides about the method and method of participation and financing, where negotiations are now taking place in isolation from the preparations to receive the contract, which has already begun with a specialized working team consisting of (9) specialists from each side, holding continuous meetings to accomplish the tasks assigned to them.”
And the ministry continued in its statement, “Noting that the transition period of (6) months begins in early (April - April 2022) with the management of the Artawi field by the Basra Oil Company, and the financing from Total, after the required administrative structure has been prepared by the Basra Oil Company. (Total) has prepared an ambitious budget to start development work and increase production.”
The ministry stressed the existence of coordination and communication between the concerned specialized teams from each side, with its expectations of achieving advanced steps in the Artawi field development project and other projects by the beginning of 2023.
The Ministry of Oil appealed to the media, the press and news sites to be accurate and objective when dealing with information related to the Iraqi oil issue, in the public interest, according to the text of the statement. finished 25