Al-luaibi: Law of the National Oil Company a step to maximize Iraq’s revenues

Al-luaibi: Law of the National Oil Company a step to maximize Iraq’s revenues

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Shatha Khalil *
The Iraqi Ministry of Oil is achieving a series of successes by its Minister JabbarAlluaibi and his direct supervision on the implementation of the development plans to promote the economic reality and stability. The Minister praises the efforts of the workers of oil sector who work day and night continuously for the optimal investment of national wealth,
During his meeting with a delegation from the province of Basrah, Al-Luaibi pointed out the importance of the Iraqi parliament’s vote on the restructuring of the National Oil Company, which ranks fourth among the world’s oil companies.
He says that the company, which dates back to the early sixties of the last century, has achieved remarkable achievements at levels of production and investment of gas and raises the rates of oil reserves and the development of oil fields.
He added that the restructuring of the National Oil Company is a step forward to open new horizons for the development of the oil and gas industry in the country, and Iraq will gain its fruits after years by the development of the oil and gas sectors and infrastructure, and improve the performance of workers in the oil sector, and develop the work of the private sector in the country, which will have a major role in the development of the national economy.
Al-Luaibi stressed the amendment of the laws and legislations by experts and jurists and the approval of the concerned parties, in accordance with the requirements of the general interest of the country’s economic and industrial aspects, because the laws are in need of some notes.
In a related context to the achievements and successes achieved by the ministry, and within the directions of Allaibi to maximize financial revenues and enhance the federal treasury and the development of real investment of the country, Al-Allaibi focuses on reducing the import of oil derivatives by (25%), which provides financial revenues, noting that this is due to the Ministry’s sound policy in terms of proper planning of the provision of petroleum products to citizens, ministries, government establishments, companies and factories of the private sector and others, indicating that the rehabilitation of a number of refineries that were destroyed by terrorist gangs and the resumption of production, contributed to the increase in production In addition to a number of production units of the refineries of the south and center. ”
Al-Luaibi pointed out that achieving the Ministry’s objectives of self-sufficiency in the production of liquid gas has the great effect of reducing the proportion of imports by covering a large part of the consumption in some facilities and compensating them with liquid gas, and operating the production units in refineries of Haditha , al-Sinea , Qayara and Kirkuk, where they have a role to Increase the production of oil derivatives.
Al-Allaibi said that the ministry is continuing to launch plans and projects for the establishment of refineries outside the country for the benefit of Iraq, and large investment projects inside the country in the liquidation sector, including Kirkuk refinery and Maysan, Nasiriyah, Faw, Anbar and Nineveh refineries and others, which contributes to raising the productive capacity of oil derivatives in the country.
In the same context, the Ministry is keen to enhance production capacity. Al-Aluaibi inaugurated the wet oil processing unit in the West Qurna field with a capacity of 50 thousand barrels, which is working to increase the production rates in the oil fields through the projects carried out in cooperation with international operating companies or through National effort.
Al-Luaibi described the project as “the pride”, explaining that the completion of the project, which was accomplished in record time during the projects implemented by the ministry in cooperation with international operating companies ExxonMobil Zoon Roiner company and the national effort, which will increase the total capacity of the station to 160 thousand barrels per day, and improve the quality of production, as it will restart the operation of 15 wells which were closed because of the impact of water, which will boost production rates by 20 thousand barrels.
“The completion of this unit will increase production rates in the field, which will boost the production capacity of Iraq,” ExxonMobil Zoon Roehner’s representative said. And added that ” the work has been completed by one million hours of non-stop work in two years through SEBEC Company .”
“The project was completed at a cost of less than the planned budget of 10 percent, and is one of four projects to raise production capacity to high levels,” the representative of Sipec Company said.
The Chairman of the Joint Committee for the management of West Qurna 1 / Hassan Mohammed pointed out, that “the project, which was carried out according to high specifications was completed in record time, and three months ahead of schedule, which reflected positively in raising the rate of production of the field during the year.
Hassan Mohammed said that during the completion of the project, the rehabilitation of national staff and training them on site to acquire modern expertise, pointing out that the ministry is determined to open the seventh wet oil processing unit soon.
The oil minister, Jabbar al-Allaibi, revealed about important negotiations with investment companies to develop the fields of Ben Omar and Artawi in the province of Basra, explaining that “the negotiations between the Ministry of Oil and the coalition of companies is still going on about the current production of the two fields,” indicating that “the ministry aspires to develop a capacity of 550 Thousand barrels of light oil, and production of 1000 million cubic feet of gas.”
He explained that “this is done in exchange for the coalition of companies to establish a project to inject water with a capacity of 5 million barrels per day, and build a warehouse in Nahr Umar and two sea pipes and two ground pipes ” pointing out that “this project is very important and will develop the area north of Basra and will provide jobs opportunities and put Iraq in advanced place for the marketing the light oil. ”
Among the minister’s concerns in building positive, cooperative and participatory relations with civil society institutions and scientific centers for research and universities , he visited Basra University where he stressed on the importance of supporting the science and scientists to enhance the scientific march in the country and he said that the ministry supports all the trends that develop science and scientists and scientific Universities indicating to the continuous coordination of this trend with the University of Basra.
During his visit to the university, the minister stressed the support of science and scientists to develop the scientific march, improve the mechanisms of teaching and lab work, and solve the problems experienced by the students in terms of teaching or appointment, and instructed the Basra Petroleum Company to meet their demands in accordance with the controls and procedures and instructions in force.
And stresses the absorption of Iraqi manpower in the projects and fields in which foreign companies operate within the fields of licensing rounds and according to the ratios previously determined in the form of concluded contracts.
Al-Luaibi discussed with the Dean and heads of departments at the Faculty of Agriculture at the University of Basra the developments in the national campaign to plant a million palm trees. He confirmed the developments in the project of the National Campaign for planting a million palm trees, which was initiated by the Ministry of Oil in coordination with the Faculty of Agriculture and concerned authorities in the governorate.
And he stresses on the development of service infrastructure, and coordination between the formations of the Ministry and the college of Agriculture for planting the ornamental trees in some of the central lands of the streets of the province of Basra, and he ordered earlier for the implementation of several service projects in the province, including the establishment of a tourist resort in Muftiya area and the development and rehabilitation of the river of Ashar , and to establish schools , pave the streets , and building Bridges and support the Cancer Hospital in the province, and other projects.

Economic Studies Unit
Rawabet Center for Research and Strategic Studies