Saudi energy officials discuss investments in oil and gas sectors in Iraq
The sign of the Saudi company, Aramco, at an oil facility in Saudi Arabia. Photo: Reuters
Baghdad (IraqiNews.com) – The Iraqi Minister of Oil, Hayan Abdul-Ghani, stated on Wednesday that Iraq welcomes Saudi partnerships in the oil and gas sectors in Iraq, the state news agency (INA) reported.
Abdul-Ghani’s remarks took place during his meeting with the Saudi Assistant Minister for Oil and Gas, Mohammed Abdulrahman Al-Ibrahim, and his accompanying delegation.
A statement issued by the Iraqi Oil Ministry mentioned that the ministry welcomes the Saudi partnership aiming to develop the oil and gas sectors in Iraq as part of enhancing bilateral ties between Iraq and Saudi Arabia.
The Saudi official elaborated that the Saudi Minister of Energy, Abdulaziz bin Salman Al Saud, expressed his interest in establishing several projects between Iraq and Saudi Arabia in the oil and energy sectors during his meeting with officials in the Iraqi Ministry of Oil.
Al-Ibrahim added that the delegation held talks with Iraqi officials and reviewed investment opportunities in the oil and gas sectors, expressing that he hopes to reach an agreement on several projects in the near future.
The Iraqi Oil Ministry revealed in May that it is discussing investments in the oil sector with Saudi companies, including Aramco, but a final agreement has not been reached yet.
Saudi Arabia is not the only Gulf country that strengthened ties with Iraq. In October 2021, the UAE signed a deal with Iraq to promote and protect mutual investments as UAE companies sought to increase their presence in sectors including clean energy and logistics, The National reported.