Optimistic about HCL; As GOI is serious about removing obstacles that impede the law

Erbil (newsletter) … Deputy Prime Minister Roz Nuri Shaways, the seriousness of the Federal Government to remove all obstacles that impede oil and gas law, expressing optimism about the agreement between the Federal Government and the Kurdistan Regional Government in the field of oil and gas.

Shaways said in his address to the second Conference of oil and gas in Kurdistan which opened in Erbil, and attended by (News News Agency): the recent agreement between the two Governments would circumvent difficulties and resolve differences between the two parties, opened the way for the oil and gas Act agreement between the Centre and the territory and local governments.

He added that the Conference, meeting in Arbil is to complement and continue previous efforts across many economic and investment conferences held in Baghdad and Erbil and London.

We said in the Federal Government and the territorial Government wait to these conferences as we provide new opportunities for economic and investment cooperation especially in oil, gas and other economic fields and SOA for the construction and development process.

Explained: the Conference in Kurdistan reflects progress in the region, noting the increased production capacity to three million barrels a day, exporting to (2.3) barrels a day for the first time since 2003.

He noted that last October’s exports (81.3) million barrels and content reserve amounted to 43 billion barrels, adding that the last round of licensing in May saw the participation of 47 Arab and global company. And between: the report of the International Energy Agency last October, Iraq’s production will double by 2020 to up to (6.9) million barrels a day, but it needs major investment.