BAGHDAD, March 31 Former Iraqi Prime Minister
Iyad Allawi said on Wednesday he would honour deals signed with
global oil majors in recent months and would move quickly to
pass a new hydrocarbons law if his bloc forms the government.
But Allawi, whose cross-sectarian Iraqiya bloc won the
greatest number of seats in Iraq's March 7 parliamentary
election, said the deals might need some minor adjustments and
he wanted to see more competition in Iraq's energy sector.
"We are going to honour all contracts. We are going to
honour all agreements because we believe this is very
important," Allawi told Reuters in an interview.
Iraq awarded contracts to oil majors to refurbish its
dilapidated oil fields after years of neglect and war with the
goal of expanding production capacity to 12 million barrels per
day (bpd) in about six years from about 2.5 mln bpd now. The
contracts could catapult Iraq into the top ranks of global
Companies involved in the deals include U.S. giant Exxon
Mobil (XOM.N); Royal Dutch Shell (RDSa.L), Europe's largest oil
company; Russia's Lukoil (LKOH.MM); China's CNPC.
Allawi said he would move quickly to put a long-delayed
hydrocarbons law before parliament to govern the industry.
"It will definitely be a priority," Allawi said. "It won't
take us long."
(Reporting by Khalid al-Ansary and Jim Loney; Editing by