Urgent Oil Minister: the completion of two drafts of oil and gas law and sent to the secretariat
Urgent Oil Minister: the completion of two drafts of oil and gas law and sent to the secretariat of the Council of Ministers
01/18/2017 15:08
[Where – Baghdad]
Oil Minister Ali Jabbar Hussein Allaibi announced a legal national oil company and the national gas company before the completion of the relevant departments in the ministry.
Allaibi said in a statement received by all of Iraq [where] a copy of ” The draft law has been sent to the General Secretariat of the Council of Ministers with a view to discussion and approval and then carried over to the House legislation.”
” The aim of the preparation of draft laws above is to strive and work to optimize the investment of national wealth of oil and gas and the development of the industry and to achieve the advancement of the economic reality of the country.”
He said the oil minister that ” the national gas company law to ensure the development of investment facilities and gas production facilities and petrochemical industry and related industries gas fields as well as greater coordination between the rings production and consumption of natural gas and the development of workers in this sector efficiency.”
For his part, Undersecretary for gas that ” the adoption of the law of the national gas company would design and organize gas investment policy in the country and lead the implementation of projects and operation of the facilities according to international standards programs, as the studies and plans indicate that Iraq possesses huge potential can be up to 5000 rates of Mqmq [million standard cubic feet per day] and the concomitant production of massive amounts of condensate and dry gas, liquid , and other components and what makes Iraq in the ranks of leading investment optimization gas states. ”
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