Baghdad – INA
The Ministry of Oil affirmed on Wednesday the importance of providing a suitable investment environment and supporting reputable companies, as well as the importance of dialogue to overcome technical and administrative obstacles.
In a statement received by the Iraqi News Agency (INA), the ministry said that "the Undersecretary of the Ministry of Oil for Extraction Affairs, Naseer Aziz, participated in a forum for oil companies operating in Iraq and stressed the importance of dialogue with international companies and working as a unified team to help overcome technical, contractual, and administrative obstacles and accelerate the implementation of oil and gas field development plans."
Aziz pointed out, according to the statement, that "the extraction sector represents one of the most important pillars of the national economy, given its fundamental role in maximizing financial resources, meeting local needs, and strengthening Iraq's position in global energy markets."
He added, "The current phase requires collaborative work and a unified team spirit between national and international companies to implement optimal investment plans for oil and gas resources, develop infrastructure, increase production and improve its quality, as well as accelerate associated and free gas investment projects and transform them into economic value that supports the energy and development sector."
He explained that "the government's vision emphasizes the importance of providing a suitable environment for investment and joint work, supporting reputable companies, and facilitating procedures in accordance with applicable laws and regulations, thereby enhancing transparency and efficiency in project implementation."
He clarified that "the relationship with international companies is based on partnership and integration, not just implementation," stressing that "continuous dialogue and joint review of outstanding issues represent the best way to address challenges, review costs, expedite referrals, and achieve the highest levels of quality and safety."