Baghdad-INA
Oil Minister Bassem Mohammed Khudair said on Tuesday that the government is moving forward with a strategic vision to develop Iraq's oil and gas sectors, adding that agreements signed during Prime Minister Ali Al-Zaidi's visit to the United States would help increase oil production and create employment opportunities.
Khudair said Iraq is on track to achieve self-sufficiency in natural gas by 2030. He also said the government is engaged in serious and constructive talks with OPEC aimed at increasing the country's oil exports.
He told Al-Mashhad program, broadcast by Al-Iraqiya News and followed by the Iraqi News Agency (INA), that the Oil Ministry is committed to transparency in presenting information to the public.
Khudair added that the presence of U.S. companies in Iraq sends a reassuring message to international firms that the country's investment environment is attractive.
He said Iraq signed seven key agreements during the visit to the United States, including a deal with U.S.-based HKN Energy to develop the Himreen oil field, agreements with Chevron to operate the West Qurna-2 field and develop Nasiriyah and Balad oil fields, and an agreement with Halliburton for the integrated management of the Bin Umar and Sindbad oil fields.
Khudair added that Iraq also signed an agreement with Syria concerning Haditha–Baniyas oil pipeline.
He said the value of the energy-sector contracts and agreements signed in Washington amounts to around $200 billion, adding that they are expected to create jobs, increase Iraq's oil and gas reserves and production, and deliver broader social benefits, including scholarship opportunities.
Khudair added that the agreements also place a strong emphasis on qualifying and training the Iraqi workforce.
He noted that 22 international companies are currently operating in Iraq's oil fields, including BP, which manages the Rumaila oil field.
Khudair said the prime minister had instructed officials to accelerate negotiations with energy companies to reach the final contracting stage, ensuring that the agreements are translated into tangible benefits for Iraqi citizens.
On the gas sector, the minister said Iraq has natural gas production capacity but it remains insufficient to meet the country's energy needs. He added that the government aims to achieve self-sufficiency in natural gas by 2030 through the implementation of new projects.
He added that Iraq has achieved self-sufficiency in gas oil (diesel) and kerosene, and currently produces around 30 million liters of gasoline per day, while acknowledging that challenges remain in the country's fuel distribution mechanisms.
On OPEC, the oil minister said Iraq is engaged in serious and constructive dialogue with the organization to increase its oil export quota.
"The government remains committed to securing the export share Iraq deserves, while taking into account the exceptional circumstances the country has endured as a result of wars and the destruction of its infrastructure," he said.
He said Iraq's total oil production capacity has exceeded 4.8 million barrels per day, adding that talks are underway with Turkey to renew the agreement governing oil exports through the Ceyhan pipeline.
Khudair said there is no objection to Turkish companies participating in the development of Iraq's oil fields, adding that pipeline projects linking Iraq to Ceyhan and Syria's Baniyas would provide multiple export routes, particularly following the disruption to Iraqi oil exports caused by the closure of the Strait of Hormuz.
On domestic issues, the minister described what had occurred at the Baiji refinery as "a waste of public funds" resulting from the appointment of unsuitable personnel.
He said the government is serious about combating corruption and preventing such experiences from being repeated, noting that the refinery is state-owned and operates under the Oil Ministry.
Khudair concluded by saying Iraq is on the verge of a significant increase in its oil production and export capacity, with planned changes to the ministry's organizational structure and a comprehensive review of its performance.
He stressed that the government would not accept dictates from any party and said U.S. companies possess advanced technology and extensive expertise in developing the oil and gas sectors.