Iraqi Oil ministry signs initially a contract with Shell and Mitsubishi

abarrelfullabarrelfull wrote on 25 Jul 2011 07:18
Tags: iraq mitsubishi shell

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Mr. Abdulkarem Liaybi, the Iraqi oil minister announced that the Iraqi ministry of oil signed initially an agreement with shell & Mitsubishi to put the final form for the contract of developing the southern gas fields, and this agreement will be shown to the council of ministers to be certified.

The minister of oil said at the same time that the oil ministry consulted two international and legal advisory offices and an international consultation office related with the study of the contracts to study the initial form of the contract and participate in many conferences with shell & Mitsubishi, and many important modifications was made on the initial form of the contract according to the consultations and the notes of the ministry stuff to achieve the highest benefit for the Iraqi side.

From his part, Mr. Ahmed Al-Shamaa the deputy minister for refineries said that the aim of this agreement is to raise the productivity of the liquefied gas to 2-2, 5 million MMSCFD. In addition to the development of the gas industry by using the big experience of Mitsubishi & shell.

From his part, Mr. Ali khudhair the director general of the south gas company whom signed the agreement as a representative of the ministry of oil assured that the application of this agreement will enable Iraq to export gas to the international market. As well as he said that the productivity raise in the gas fields in Basra will help in developing the infrastructure in the governorate especially in the field of electric power and the preservation of environment.

From his part Mr. Muneer Abu Aziz, the representative of Shell Company said that the Iraqi entrance to the international market of gas exportation is an important thing and Iraq might be in the lead in the field of gas exportation.

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