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The Iraq Minister of Oil promotes the achievements of the Iraq Oil Sector at Conference

The Iraqi third conference for oil & gas was held on the 28th of October 2015

By the presence of Mr. Adil Abd Al-Mahdi the minister of oil… The Iraqi third conference for oil & gas was held in Wednesday the 28th of October 2015 and lasted for two days in Maysan province. 

   The conference was also attended by many members of the energy committee in the council of deputies, the mayor of Maysan, the inspector general in addition to a staff of the ministry and many researchers from different countries.

    Mr. Abd Al-Mahdi said in his speech that such conferences helps the ministry to develop the national fortune, and also necessary to develop the Iraqi scientists & employees in order to  elevate Iraq to high levels as the second oil exporter in OPEC, the third world reserve and the 11th gas producer. He said also that a fifth conference will be held if the gas industry was developed. And such conferences are necessary to develop the Iraqi scientists & employees.

   Mr. Abd Al-Mahdi said also that the oil sector made big accomplishments in comparison to the last years and the oil production is now (3.756) million barrels / day “with the exports of Kurdistan “in comparison to 2014 which was (3.198) million barrels / day, in-spite of the bad circumstances in the country … while the exports of September was (3.051) million barrels / day in comparison to September 2014 which was (2.535) million Barrels/ day. He said also that there is only one drop which is the oil prices which affected negatively on the outcomes so that the outcomes of September 2015 was 3.700 billion dollars in comparison to September 2014 which was 6.916 billion dollars.

   About the licensing rounds contracts, Mr. Abd Al-Mahdi said that the ministry made discussions with the international companies and these contracts should be reviewed in the next few years in order to achieve the common benefit. So there must be a connection between the oil prices and the outcome for the two parties so if the prices was dropped, the two parties must carry the burden so that the other party should reduce the cost to maintain the benefit for the two parties and enforce the mutual relations.

   He said also “we was determined to recruit the national capabilities in all the oil & gas business and give them bigger significance in order to reduce the spends, enhance the resources and achieve the higher profit for the companies that are funded from the taxes and other resources, as well as save the money which is spent every day outside Iraq”.

    Mr. Abd Al-Mahdi said that despite the previous circumstances, there are big efforts made by the ministry to supply the power stations with the different types of oil (crude oil, black oil, dry gas and liquefied gas) in order to support the national institutions in order to provide the services to the citizens and supply the private power generators with gas oil to guarantee the supply of power to the citizens. 

   Mr. Abd Al-Mahdi said that the ministry is working on to reduce the burning of the associated gas within a short period of time less than two years, while the ministry could achieve a big advance in this field. He also noted on the necessity to add this wealth to the activities of the country to be a stimulant to the scientific capability and the industry, agriculture and petrochemicals field activities. 

   Mr. Abd Al-Mahdi was thankful for the armored forces in all their forms and the popular mobilization forces for their stand in fighting the terrorists and ISIS … he is also asking God to support the Iraqi forces in this battle which has only two options, either victory or victory.

   The mayor of Maysan province said in his speech that it is necessary to continue the development in the oil industry and support it because it is the main funding resource and the mechanism for the economic growth. He said also that Maysan had made a big step in the field of development via making use of the petrodollar resources which affected positively on the province.

   Mr. Ali H. Majeed the representative of Petro china Company presented a brief show about the stages of the work progress in the Halfaya field which the ministry of oil signed its contract in 2010. The show contained the discussion about the development stages of the production until the current final production of the field.

   Mr. Kareem A. Alwan the Chairman of the Preparatory Committee of the Conference said that the ministry was determined to develop the Iraqi oil industry via a conference each two years to research, study and discuss to achieve the aim which is the oil & gas industry development. While the ministry had held the first conference in 2011 in Basra province and the second in Baghdad in 2013 and now they are making their third conference in Halfaya field in Maysan in cooperation with Petro China. 

   Mr. Assim Jihad the spokesman of the ministry said that there will be 10 sessions and 49 subjects will be discussed during these sessions including many issues about the oil industry such as the activities of production, refining, environment, energy and the nano technology.



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