Baghdad-INA
The Ministry of Oil confirmed on Monday its commitment to implementing the government's vision for optimal oil and gas investment, aiming to meet domestic needs and boost export volumes and public treasury revenues. The ministry also revealed its contracting plans with international companies and the opportunities presented in the Washington talks.
Ministry spokesperson Salim al-Rikabi told the Iraqi News Agency (INA): "The ministry is proceeding with the implementation of the government's vision for optimal oil and gas investment, which will meet domestic needs and enhance export volumes and public treasury revenues."
He added that "these steps are based on the Prime Minister's directives to invite reputable international companies, particularly American and European ones, to invest in the oil and gas sector."
He added that "the ministry has negotiated with a number of specialized companies, most notably Chevron, a global oil and gas company, to implement projects to develop several oil fields, including the Balad and Nasiriyah fields, in addition to projects related to crude oil pipelines in partnership with specialized American and Qatari companies. These include Basra-Haditha, Kirkuk-Ceyhan, and Haditha-Banias pipelines."
He indicated that "the contracting procedures and the preparation of technical and economic studies for these projects are expected to be completed soon."
Al-Rikabi explained that "the ministry has also signed a number of contracts with other American companies, including Halliburton for the development of Bin Omar and Sindbad fields, and HKN for the development of the Hamrin field."
He emphasized that "the development of these fields and the strategic oil pipeline projects will positively impact Iraq's production and export capacity," noting that "these projects will be among the topics discussed by the Prime Minister, accompanied by the Minister of Oil and a number of other ministers and government officials, during the upcoming visit to the United States."