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[size=36]Russian companies plan to double their investments in Iraq[/size]
Economy | 02:48 - 11/02/2020
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Baghdad - Mawazine News
The First Deputy Chairman of the Political Committee of the Russian Federation Council Yuri Fyodorov announced today, Tuesday, that three Russian companies are ready to increase their investments in the oil and gas sector in Iraq.
Fyodorov said, during a meeting with the Iraqi ambassador in Moscow, Abd al-Rahman al-Husseini, that companies may spend up to $ 20 billion on oil projects in Iraq in the near future.
The Russian deputy added that the three Russian companies "Lukoil", "Bash Neft" and "Gazprom Oil" are doing well in Iraq, where their total investments exceeded 10 billion dollars.
He pointed out that this may increase the enthusiasm of three other companies, which are "Zarubezh Neft", "Tat Neft" and "Ross Neft Gas" to work also in Iraq.
It is noteworthy that Iraq has proven reserves of oil, amounting to about 154 billion barrels, while gas reserves are about 3.7 trillion cubic meters.
Last year, Russia had resumed cooperation with Baghdad, with the aim of restoring energy infrastructure, especially in the electricity sector, as some Russian companies are helping Baghdad to restore and develop electrical power facilities, while negotiations on building thermal power plants with the help of Russian companies are still ongoing. Ended 29 / p
Fyodorov said, during a meeting with the Iraqi ambassador in Moscow, Abd al-Rahman al-Husseini, that companies may spend up to $ 20 billion on oil projects in Iraq in the near future.
The Russian deputy added that the three Russian companies "Lukoil", "Bash Neft" and "Gazprom Oil" are doing well in Iraq, where their total investments exceeded 10 billion dollars.
He pointed out that this may increase the enthusiasm of three other companies, which are "Zarubezh Neft", "Tat Neft" and "Ross Neft Gas" to work also in Iraq.
It is noteworthy that Iraq has proven reserves of oil, amounting to about 154 billion barrels, while gas reserves are about 3.7 trillion cubic meters.
Last year, Russia had resumed cooperation with Baghdad, with the aim of restoring energy infrastructure, especially in the electricity sector, as some Russian companies are helping Baghdad to restore and develop electrical power facilities, while negotiations on building thermal power plants with the help of Russian companies are still ongoing. Ended 29 / p
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