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[size=36]With tens of billions of dollars, Iraq intends to sign energy contracts with Saudi Arabia[/size]
Economie| 08:35 - 01/11/2021
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Baghdad - Mawazine News
, head of the Iraqi negotiating delegation in the Iraqi-Saudi Committee for Energy and Manufacturing Industries, Oil Minister Ihsan Abdul-Jabbar Ismail, revealed that Iraq intends to sign huge contracts with Saudi Arabia before the end of the current government's period for investment participation in the gas, alternative energy, water and petrochemical industries, noting that These investments are estimated at tens of billions of dollars across the country.
The minister said, "The Kingdom of Saudi Arabia believes that the sustainable development plans in the two countries are in line in recent years with the 2030 Millennium Development Plan and its institutional frameworks in the two countries and the Arab region as two oil countries that top the list of crude oil exporters to global markets."
The Minister of Oil and Chairman of the National Oil Company announced that “Iraq is negotiating with the global oil production giant (Aramco), to enter it as a partner in contracts for exploration and investment of free gas in the new fields in the Western Desert,” noting that “the results of those negotiations are being studied by experts from the two countries for the agreement.” A draft of long contracts that satisfies the aspirations and interests of
both countries.
He pointed out that "the Iraqi negotiating committee intensified its serious discussions with the Saudi company (Acwa Power) to build water desalination plants, clean energy, and solar energy plants to bring them into the local energy market."
He added, "The directive was directed to focus on establishing long-term relationships that would allow Iraq to benefit from the high flexibility of (Aqua Power), the giant of the clean energy industries in the Kingdom and the Gulf, in implementing projects at reduced costs and with high efficiency by striving to obtain (the highest possible service at the lowest possible cost). )", stressing that "advanced success rates have been achieved in multiple negotiations with companies from different countries."
In the context of strengthening the developmental steps of the Iraqi economy, the Minister of Oil revealed “intensive discussions that have been taking place since last April between (Saudi SABIC) and developed with positive results by drafting into a special memorandum that will be presented to the Council of Ministers during the upcoming sessions to discuss its participation in Iraq with an equal share for a project investment ( Nibras Petrochemical Company in Basra under an agreement signed between the Ministry of Industry and (Royal Dutch Shell) to establish a petrochemical complex in Basra, which will produce 1.8 million tons annually.
The Minister of Oil said that he "hopes that there will be a clear legal cover and joint protection for these Saudi companies and Emirati and foreign companies operating in the country," and that "the (National Oil Company) managed to lure the major energy companies globally and sign agreements estimated at $30 billion. With the French company (Total), the UAE (Masdar) and the Norwegian (Scatec), which will provide additional returns and profits to enter the Iraqi market for the first time in its economic history, and will provide thousands of jobs for job seekers, which will lift the burden of the central government on the employment sector and its transfer to the Iraqi private sector joint with Saudi investment companies, whose economy ranks among the strongest economies in the world, as a member of the (Group of Twenty) in terms of the volume of natural resources, which are estimated at about $35 trillion, and come in third place after Russia and the United States of America.
And he indicated that "it is natural for Saudi companies to have interest in a large country like Iraq, with a population of more than 40 million people, and with a culture of consumerism that tends to prosperity with Iraq's natural resources, and this is a natural right similar to the peoples of other countries." Ended 29 / h
, head of the Iraqi negotiating delegation in the Iraqi-Saudi Committee for Energy and Manufacturing Industries, Oil Minister Ihsan Abdul-Jabbar Ismail, revealed that Iraq intends to sign huge contracts with Saudi Arabia before the end of the current government's period for investment participation in the gas, alternative energy, water and petrochemical industries, noting that These investments are estimated at tens of billions of dollars across the country.
The minister said, "The Kingdom of Saudi Arabia believes that the sustainable development plans in the two countries are in line in recent years with the 2030 Millennium Development Plan and its institutional frameworks in the two countries and the Arab region as two oil countries that top the list of crude oil exporters to global markets."
The Minister of Oil and Chairman of the National Oil Company announced that “Iraq is negotiating with the global oil production giant (Aramco), to enter it as a partner in contracts for exploration and investment of free gas in the new fields in the Western Desert,” noting that “the results of those negotiations are being studied by experts from the two countries for the agreement.” A draft of long contracts that satisfies the aspirations and interests of
both countries.
He pointed out that "the Iraqi negotiating committee intensified its serious discussions with the Saudi company (Acwa Power) to build water desalination plants, clean energy, and solar energy plants to bring them into the local energy market."
He added, "The directive was directed to focus on establishing long-term relationships that would allow Iraq to benefit from the high flexibility of (Aqua Power), the giant of the clean energy industries in the Kingdom and the Gulf, in implementing projects at reduced costs and with high efficiency by striving to obtain (the highest possible service at the lowest possible cost). )", stressing that "advanced success rates have been achieved in multiple negotiations with companies from different countries."
In the context of strengthening the developmental steps of the Iraqi economy, the Minister of Oil revealed “intensive discussions that have been taking place since last April between (Saudi SABIC) and developed with positive results by drafting into a special memorandum that will be presented to the Council of Ministers during the upcoming sessions to discuss its participation in Iraq with an equal share for a project investment ( Nibras Petrochemical Company in Basra under an agreement signed between the Ministry of Industry and (Royal Dutch Shell) to establish a petrochemical complex in Basra, which will produce 1.8 million tons annually.
The Minister of Oil said that he "hopes that there will be a clear legal cover and joint protection for these Saudi companies and Emirati and foreign companies operating in the country," and that "the (National Oil Company) managed to lure the major energy companies globally and sign agreements estimated at $30 billion. With the French company (Total), the UAE (Masdar) and the Norwegian (Scatec), which will provide additional returns and profits to enter the Iraqi market for the first time in its economic history, and will provide thousands of jobs for job seekers, which will lift the burden of the central government on the employment sector and its transfer to the Iraqi private sector joint with Saudi investment companies, whose economy ranks among the strongest economies in the world, as a member of the (Group of Twenty) in terms of the volume of natural resources, which are estimated at about $35 trillion, and come in third place after Russia and the United States of America.
And he indicated that "it is natural for Saudi companies to have interest in a large country like Iraq, with a population of more than 40 million people, and with a culture of consumerism that tends to prosperity with Iraq's natural resources, and this is a natural right similar to the peoples of other countries." Ended 29 / h
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