Parliamentary Committee: The fifth licensing round will achieve a quantum leap in oil production

Baghdad-INA  
The Parliamentary Oil, Gas and Natural Resources Committee confirmed today, Tuesday, that the fifth licensing round will achieve a qualitative leap in oil production, noting that it will save Iraq from an expected global financial crisis.
 
Committee member Zainab Juma’a Al-Musawi told the Iraqi News Agency (INA): "The fifth licensing round signed by the Ministry of Oil sponsored by the Prime Minister Muhammad Shia'a Al-Sudani is important, competitive and transparent for the development of our oil and gas fields and exploration patches that were adopted by the Ministry of Oil more than 10 years ago."
 
Al-Musawi added, "This round is complementary to its four previous ones," noting that it "will achieve a qualitative leap for Iraq in oil production, confirm Iraq's position on the global oil map, and contribute to saving the country from an expected financial crisis, especially if oil prices drop in the global market."
 
The final signing ceremony for contracts for the fifth licensing round, related to border blocks and fields, took place at the Ministry of Oil, sponsored by Prime Minister Mohamed Shia’a Al-Sudani.