Oil Ministry: licenses of first and second rounds will not be reviewed

The licenses of the first and second rounds of the Oil contracts will not be affected by the governmental changes and we reject the intervention of some entities in the work of the Ministry to make it a part of the political consumption system in Iraq," according to a source in the Oil Ministry today.

"The demands of some entities to reconsider and amend the first and second rounds of licenses are not logical and unconstitutional," the spokesman of the Ministry Asem Jihad told The Independent National News Agency of Kurdistan.

"The Ministry will implement the signed contracts to change the economic situation in Iraq despite the political or security developments," he said.

He said that the coming period shall witness a high turnout of by other companies to invest in the oil field but there is no third licensing round in the future.

"The Oil Ministry shall form a committee to go to Kurdistan Region and address the problems as soon as possible after finding an appropriate platform for dialogue between the Federal Government and the Government of the Region," he added.

Iraq did the first and second licensing rounds in the presence of dozens of international oil companies, thing that was opposed by a number of former MPs because the law on oil and gas was not implemented in the previous phase.

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