Shafaq News- Baghdad
Iraq's Oil Ministry on Wednesdayinvited international energy companies to compete for the development of gasfields in the country's western region, part of efforts to expand productionand attract investment.
Addressing the Oil CompaniesInternational Forum in Baghdad, Oil Minister Bassem Mohammed Khudair al-Abadidescribed foreign firms operating in Iraq as partners rather than contractors,stressing that cooperation and dialogue were essential to implementingcontractual obligations and addressing challenges.
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The minister also highlighted PrimeMinister Ali Al-Zaidi's directive to review tender costs, particularlycontracts with inflated prices, while maintaining approved quality standards inlight of current global conditions.
With concerns over the Strait ofHormuz easing, Al-Abadi invited international companies to submit applicationsto receive their dues through the State Organization for Marketing of Oil(SOMO).
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