Oil Minister: We plan to conclude contracts that achieve the highest economic returns for Iraq

Saturday 19 June 2021 19:33
 
Baghdad / NINA / - Oil Minister Ihsan Abdul-Jabbar confirmed: We plan to conclude contracts that will achieve the highest economic returns for Iraq.

During his presidency of intensive meetings at the headquarters of the Basra Oil Company in the Basra Governorate and over the past two days, according to a statement by the ministry, he instructed the departments of the Basra Oil and South Gas Companies and the concerned departments in the ministry’s center to expedite the finalization of the proposed economic model for the integrated gas project, which is to be signed during the near future period.

He said: These projects fall within the priorities of the ministry's plans in the optimal investment of associated gas and the development of infrastructure, in order to convert the energy that is burned into useful energy that supports the national economy and sustainable development projects.

He pointed out: the importance of intensifying meetings and discussions, especially for the technical, financial, legal, economic and contractual axes with national companies, relevant departments and experts in order to reach an ideal formulation of contracts and agreements with sober international companies to achieve the highest economic return for Iraq, stressing the importance of signing with the international company Total in the gas and energy sectors. Clean infrastructure.

For his part, Undersecretary for Extraction Affairs Karim Hattab said: The integrated gas project includes a project to build an Artawi gas investment complex, a sea water project, and the development of Artawi field.

He added that: The Ministry of Oil has made great progress in the preparation and implementation of projects to advance the oil sector, expressing his hope to conclude many contracts that contribute to achieving the goal of increasing and sustaining production, despite the economic and health challenges.

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