Iraq says ready to negotiate oilfield contracts!

[AGENDA21]

DOHA (Reuters) - Iraq is ready to move swiftly in negotiating multi-billion-dollar oilfield contracts with international majors and can sign deals before an investment law is passed by the government, a top oil official said on Friday.

The Iraqi oil sector has been crippled by attacks on energy installations, political wrangling, lack of funds and mismanagement since the U.S.-led invasion in 2003. To reverse output declines, it needs to ensure the flow of funds and restore security to allow for maintenance and development.

"The investment law could take some time and we are not prepared to wait for that long," Shamkhi Faraj, director general of marketing and economics at the ministry of oil, told Reuters.

"I think (negotiations) can happen very fast. I am confident that we can do our own legislation within the contract itself to assure the investors that if any new regulation comes through it will not affect them," he added.

http://today.reuters.com/news/articlenews.aspx?type=reutersEdge&storyid=2006-04-21T123906Z_01_L21125415_RTRUKOC_0_US-ENERGY-IRAQ.xml

[ClintonTyree]

1. Good, because Iraqi oil....

is going to pay for Bush's war. At least that's what we were told. :eyes: Of course we were told a lot of things about Bush's oil war and darned if all of it wasn't pure bullshit! :mad:

[dipsydoodle]

2. Also sounds like

it's bung money time again - mucho bribes.

[AGENDA21]

3. Looking forward to finding out who gets the contracts!