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Iraq Oil and Energy Committee Deputy: Proposed oil and gas law is the best solution to problems in Iraq

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http://www.aknews.com/ar/aknews/2/257045/


Iraq Oil and Energy Committee Deputy: Proposed oil and gas law is the best solution to problems in Iraq


Sulaimaniya, August 15 / August (Rn) – A member of the Commission on oil and energy in the Iraqi Council of Representatives, that the proposed oil and gas law by a number of deputies to the committee is the perfect solution to the problems that plagued Iraq in this regard, pointing out that the proposed law displays with full powers to grant ad hoc committee, the field of oil in the country.

Said Bayazid Hassan, told the Kurdish news agency (Rn), that “60 members of the Iraqi Parliament submitted in the earlier proposal of the law of oil and gas to the oil and energy in the Council,” adding that “the proposed law is the best solution to the problems that plagued Iraq in the oil and gas. “

Hassan added that “the proposed law offers grants full powers of the Commission competent in the field of oil in the country,” noting that “the expected inclusion of the proposal on the agenda of Representatives during the next few days to discuss it after the Council voted to approve the inclusion within its work during its meeting last Friday.”

A member of the Commission on oil and energy parliamentary that “the proposed law is similar in content of the draft law of oil and gas joint between the federal government and the Kurdistan Regional Government for 2007 is that the proposal canceled the membership of the Commission on oil and gas and federal head of Iraqi oil the national and the President of marketing of oil from the relevant committee in the field of oil by the allocation of fund for the proceeds of Iraqi oil. “

He noted that “the proposed law offers a solution to outstanding problems between Baghdad and Erbil, with respect to oil and gas where it is proposed to form a joint committee whose members include the Minister of the Federal Oil and Minister of natural resources in the territorial Government and the Chairman of the Commission on oil and energy representative to review the oil contracts concluded by the Kurdistan Regional Government with foreign companies.” He added, “If the Joint Committee to reach agreement, the heads of the three major blocs in the Iraqi parliament will stick to the signing of the agreement.”

The cabinet approved the draft law of oil and gas in 2007 but faced a Kurdish objection, it is seen by observers differences between Erbil and Baghdad over the sharing of oil revenues and control over some fields in northern Iraq and the Kurdistan region.
The law will determine the party that controls Iraq’s vast oil reserves, the fourth-largest reserves in the world and also aims to attract foreign investors.

Iraq and select a target to increase production capacity to 12 million barrels per day by 2017 from about 2.7 million barrels per day currently.

He continued that “the proposed law defines the powers of the Federal Oil and natural resources in the region and the provinces extracted oil as well as a mechanism to conclude contracts for the field of oil with foreign companies,” explaining that “the proposed displays authorize the Federal Oil and Natural Resources Kurdistan conclusion of the initial contracts with foreign companies and forwarded to the Commission on oil The Federal Energy during a maximum period of 30 days for the Commission to turn to study the contract in the absence of his consent to the conditions are returned to complete the conditions otherwise the Committee shall issue its decision on the contract within 60 days can be extended to 45 days extra in case failed to reach a final decision during that period contract is in force legally. “

The Kurdistan region has started exporting oil from its territory in June of 2009 for the first time in its history from the fields, “Taq” and “Tawke” rate of about 100 thousand barrels per day.

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