Cabinet issues a number of new decisions

Baghdad - INA

The Council of Ministers, during its thirty-second session, held today, Tuesday, headed by Prime Minister Mustafa Al-Kadhimi, issued a package of new decisions.
 The Media Office of the Prime Minister stated in a statement received by the Iraqi News Agency (INA), that "the Council of Ministers, after discussing the topics on its agenda, issued a number of new decisions, as the Council of Ministers approved the recommendation of the Ministerial Council for Energy (109 for 2021) on the issue of restructuring The participation of (BP) and (Petrochina) in the service contract for the Rumaila field / Basra Oil Company, according to the following:

1- Exception from the provisions of Article (2) of the Foreign Companies Branch Regulations (2 of 2017), so that the new company (Basra Energy Limited) Starting the procedures for opening a branch in Iraq after the date of signing the assignment agreement.

2- Exception of this case only from the provisions of Article (28) of the service contract for the Rumaila field, the fact that the restructuring of Rumaila is not fully consistent with the provisions of the aforementioned article, as the new company and its founders (BP and Petrochina) will be for administrative organization purposes.”
The statement added, “The Cabinet issued a number of decisions related to the electricity sector, as follows: 

First- Preparing a draft law to amend the name of the Ministry of Electricity to be (Ministry of Electricity and Renewable Energy), and refer it to the House of Representatives.

Second - Approval of the recommendations of the consultative meeting regarding the implementation of the Ministerial Energy Council’s decision (59 of 2020), on the projects of the Ministry of Electricity, and the plan to address bottlenecks, contained in the letter of the Ministry of Electricity No. (34341) dated (August 9, 2021), taking into consideration The opinion of the General Secretariat of the Council of Ministers stated in the memorandum of the Legal Department No.

Third - Approval of the establishment of a public company in the name of (the General Company for the Distribution of Middle Euphrates Electricity), with a capital of one trillion four hundred and forty-three billion, three hundred and ninety-two million, one hundred and ninety-four thousand six hundred and eighty-nine dinars. 
The Ministry of Electricity undertakes the measures specified in Article (4) of the amended Public Companies Law No. (22 of 1997).

Fourth - Approval of the memorandum of principles of cooperation with the American Rabaa Company set forth in the Ministry of Electricity letter No. (34028) dated (August 8, 2021), according to the following two axes: The
first axis - the completion of the second phase of the fifth multi-annual maintenance program (PUP5).
The second axis: a proposal for an annual maintenance program for production units for the next five years.