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Iraq Ministry of Oil News: The Minister of Oil Declares the Accomplishment of the Draft of the Oil and Gas Law.

Mr. Allibi said that the draft of the laws was sent to the general secretariat of the cabinet in order to be discussed and approved, then to be referred to the parliament to gain the approval

    Mr. Jabbar A. Allibi the minister of oil declared for the accomplishment of the laws of the national petroleum company and the national gas company by the concerned directorates in the ministry of oil.

   Mr. Allibi said that the draft of the laws was sent to the general secretariat of the cabinet in order to be discussed and approved, then to be referred to the parliament to gain the approval. He said also that the aim behind such project is to invest the national wealth of oil & gas perfectly and develop this industry to improve the national economy.

   Mr. Allibi said also that the law of the national gas company included the development of the gas production & investment, the petrochemical industry projects and the industries which are related with the gas, the elevation of the efficiency of coordination between the chains of production & the normal gas consumption in addition to the development of the employees in this sector.

   Dr. Hamid Y. Salih the deputy minister for gas affairs confirmed that the decision of the national gas company law can organize the investment policy in the country and rule the implementation programs of these projects & operate the facilities according to the international standards, because the studies & plans shows that Iraq contains giant gas wealth estimated with (5000) MSCF/ day, in addition to the C5 condensed gas, the dry gas and the other materials, which makes Iraq  with the leading best investor countries of gas.

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