When told that the union complained about the uncompromising stance of the IOCs, Jatto said, 'We are talking so we should expect something positive from it today.'
Maritime workers under the aegis of the Maritine Workers Union of Nigeria (MWUN) on Wednesday made good their threat of protesting over their unpaid entitlements by the International Oil Companies (IOC) by grounding port operations.
No business today except the IOC's meet our demands'
Comrade Adewale Adeyanju, addressing the press explained that the association has decided to downtool following the refusal of the International Oil Companies (IOC) to pay all outstanding stevedoring entitlements to it's members.
Before the April 30 opening of the London conference, the FTP and model EDP-RSCs were sent to IOCs after the MoO's Petroleum Contracts and Licensing Directorate (PCLD) made some changes to previous ones, said a covering note attached to the documents signed by PCLD's Director-General Nateq al-Bayati.
These huge amounts were to add to the risks of taking on work in Iraq for IOCs already concerned that deals offered the prospect of little reward.
IOCs had been jostling for years for access to some of the world's biggest oilfields in Iraq.
Annual reports written by IOCs as part of their technical service agreements (TSAs) with KOC on the condition of the northern fields have repeatedly warned of the reservoirs' deteriorating condition.
"An important objective of Kuwait is to ensure a long-term relationship with the IOCs and optimal economic performance", Rifa'i said, adding: "If Kuwait would simply pay fees from the first day of operation, IOCs will have a positive cashflow from day one.
IOC participation will, over the 20-year lifetime of their operating services agreement signed with KOC, substantially lower operating costs through superior reservoir management practices.