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New Iraqi Contracts To Have Local Workforce Stipulations

Foreign oil companies will now have to employ a minimum of 85 percent Iraqi's as part of the workforce to deliver projects

In a message to attendees of the Basra Mega Projects conference in Istanbul,  Iraq Oil Minister Jabar al-Luaibi has announced that all new contracts with foreign oil companies will include a stipulation that at least 85 percent of the workforce for projects will be Iraqi nationals. The term will affect all contract types including oil extraction, refining, gas and infrastructure development.

In addition, new contracts will also ensure that foreign oil companies invest in projects to improve infrastructure, water, health and education.

The comments from al-Luaibi follow recent protests in basra and surrounding areas as a result of a lack of services, clean water supply and employment opportunities for residents of the oil rich province. 

Source: Reuters


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