Iraq is looking for optimal investment in oil and gas
A gas processing facility at Rumaila oilfield in Basra, Iraq. Photo: Reuters
Baghdad (IraqiNews.com) – The Iraqi Prime Minister, Mohammed Shia Al-Sudani, highlighted the importance of utilizing the rise in crude oil prices in the global market, calling for increased financial allocations to invest in oil and gas.
During his meeting with officials in the Oil Ministry, Al-Sudani said that oil represents the main source of income, adding that the government is working to develop this vital sector as well as the chemical, petrochemical, and fertilizer industries and the electricity sector.
Al-Sudani also reviewed the results of the discussions held between the Ministry of Oil and the Ministry of Natural Resources in the Kurdistan Regional Government (KRG) to complete the procedures required to resume crude oil exports through the Turkish port of Ceyhan.
The Iraqi Prime Minister also reviewed the progress of the plans developed by the Ministry of Oil to develop the oil sector in Iraq, in addition to projects related to oil and gas extraction, refineries, and exports.
Al-Sudani discussed with officials in the oil sector the investment opportunities announced by the Oil Ministry in 2023.
Participants also talked about associated gas investment projects in the fields of southern Iraq, projects to convert natural gas into high-purity oil derivatives, carbon dioxide emissions, and ways to develop the infrastructure related to gas utilization.