Oil plans to spend $ 173 billion to develop the oil industry
Oil plans to spend $ 173 billion to develop the oil industry
Saturday, March 16, 2013 15:17
BASRA / Baghdadiya News / .. Oil Ministry confirmed on Saturday its intention to spend more than $ 173 billion in the next five years on projects aimed at developing the oil and gas industry, noting that Iraq’s oil exports reached 2.9 million barrels per day.
And Aosah Oil Minister Abdul Karim and coffee in a speech during the Forum development and private sector development in Iraq held by the ministry in cooperation with the company (Shell) oil and the participation of officials and Iraqi businessmen and foreigners, and attended / Baghdadiya News / “The Forum development is the beginning of real development and enable companies domestic oil, “pointing out that” the oil industry in Iraq is an urgent need to the private sector and national meets internationally recognized standards, and has the ability to execute projects efficiently. ”
He added that “Iraq’s oil exports reached 2.9 million barrels per day,” stressing that “this rate can be raised to nine million barrels per day within five years, and it needs to be $ 130 billion for the development of the oil sector.
He Laibi that “the ministry plans to allocate more than $ 130 billion to be spent over the next five years on projects large investment belong to the extractive sector, as well as $ 25 billion for the sector filtering and refining, and $ 18 billion will go to the gas sector,” explaining that “this trend includes the implementation of thousands of projects and contracting, and therefore we need to the local private sector can play a big role in eliminating the phenomenon of unemployment. ”
He stressed that “international oil companies operating in Iraq is also a great need to local oil companies in the private sector,” adding that “companies like (Shell) and (BP) are investment companies do not implement projects effort self, but prepare tenders projects and contracts with other companies for the purpose of implementation. ”
For his part, Governor said Khalaf Abdul Samad in a speech during the opening forum that “Forum establishes a new phase of partnership between foreign oil companies and local operating in Iraq,” adding that “rapid steps towards the development of the oil industry in Basra require enable the local private sector to play a role the largest, as it should increase the efficiency and raise the wages of workers in the oil companies and civil government. “Finished / 21
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