Shahristani: Iraq oil policy will determine in the world during the next two decades
07/16/2011 13:39Economyno comments BAGHDAD (AFP) - The Iraqi Deputy Prime Minister for Energy, Hussain al-Shahristani Saturday that his country will determine the politics of oil in the world, after the Oil Ministry signed contracts with foreign companies for the development of eleven oil fields.
Shahristani said in a speech at a conference of ambassadors of Iraqis in Baghdad that "Iraq will be a great player and one adult producers and exporters, this is expected."
"But judging by the pace we go out now, Iraq will be determined is the world's oil policy and the system of supply and demand and prices."
Iraq 11 and signed an oil contract with major international companies to develop fields, and hoped that the production of up to 12 million barrels per day in early 2017.
"We can not do without the world for oil during the next two decades, but will increase the demand for this material at a rate twenty million barrels over the next twenty years, according to studies by the main research centers studying the oil market."
"So Iraq will enter the market at a very opportune time, any increase (demand), will occur at a time when the world will need to oil, which can not be supplied from any other else, at the level of the next two decades."
He said al-Shahristani said Iraq would be at the forefront of countries in terms of oil reserves and production. "
Iraq had announced last April that he will present early next year a new licensing round 12 locations to invest in oil and gas exploration in the fourth round of bidding, which began mid-2009 to increase the reserves of the country's oil and gas.
Iraq has the third oil reserves in the world is estimated at 115 billion barrels, after Saudi Arabia and Iran.
http://www.albawwaba.net/economic/36982/
07/16/2011 13:39Economyno comments BAGHDAD (AFP) - The Iraqi Deputy Prime Minister for Energy, Hussain al-Shahristani Saturday that his country will determine the politics of oil in the world, after the Oil Ministry signed contracts with foreign companies for the development of eleven oil fields.
Shahristani said in a speech at a conference of ambassadors of Iraqis in Baghdad that "Iraq will be a great player and one adult producers and exporters, this is expected."
"But judging by the pace we go out now, Iraq will be determined is the world's oil policy and the system of supply and demand and prices."
Iraq 11 and signed an oil contract with major international companies to develop fields, and hoped that the production of up to 12 million barrels per day in early 2017.
"We can not do without the world for oil during the next two decades, but will increase the demand for this material at a rate twenty million barrels over the next twenty years, according to studies by the main research centers studying the oil market."
"So Iraq will enter the market at a very opportune time, any increase (demand), will occur at a time when the world will need to oil, which can not be supplied from any other else, at the level of the next two decades."
He said al-Shahristani said Iraq would be at the forefront of countries in terms of oil reserves and production. "
Iraq had announced last April that he will present early next year a new licensing round 12 locations to invest in oil and gas exploration in the fourth round of bidding, which began mid-2009 to increase the reserves of the country's oil and gas.
Iraq has the third oil reserves in the world is estimated at 115 billion barrels, after Saudi Arabia and Iran.
http://www.albawwaba.net/economic/36982/