The Iraqi Oil Minister Adel Abdul Mehdi issued a statement that National Oil Company has received a draft law by the Oil Ministry, but it is not an alternate for the Oil and Gas Law.
This draft law is contrary to reduce the role in the field’s administration and operation in order to deal with international oil companies that are operating in Iraq. Abdul Mehdi further added in his press statement that a seminar held in Baghdad to discuss oil related law and issues. He confirmed that Iraqi Council of Ministers and the National Oil Company received oil draft law from the Iraqi Oil Ministry, but it should not be considered as an alternate of Oil & Gas law.
Abdul Mehdi said in press statement that this draft was much necessary in the current situation in order to safe Iraqi oil industry. He said the National Oil Company would focus on its performance in the oil fields. It would also provide a handsome support to the development plan and to improve the oil production in the country. He added that Oil and Gas Law has its own importance and it should be approved as soon as possible, but this draft law of oil would support until the new law to be passed by the House of Representatives. The Oil and Gas Law is still under discussion and we hope that it would be implemented in the near future.