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Shafaq News/ The Deputy Prime Minister for Energy Affairs, Minister of Oil, Hayan Abdul-Ghani confirmed, on Thursday, the activation and conversion of memorandums of understanding with Saudi Arabia into a practical reality on the ground within specific time limits.
Abdul-Ghani said during the meeting of the ministerial delegation visiting the Kingdom of Saudi Arabia at the invitation of Prince Abdulaziz bin Salman, the Saudi Minister of Energy, that Iraq is keen to enhance the prospects of bilateral cooperation between the two countries in a way that achieves common interests, according to a statement received by Shafaq News agency.
Abdul-Ghani referred to activating, accelerating and converting memorandums of understanding into a practical reality on the ground, specifying specific timings for implementation, including the gas investment project in the Akkas field, the Nebras petrochemical project, the electrical connection, as well as gas investment projects in the southern fields, clean energy and others.
He called on Saudi companies to invest in the oil and gas sector through the implementation of joint projects, stressing that Iraq seeks to provide a suitable environment for the work of Arab and international companies.
Regarding cooperation and coordination with the Kingdom in the "OPEC" and "OPEC Plus" organizations, the oil minister said, "Iraq is supportive of the decisions and agreements of (OPEC) and (OPEC Plus) because they aim to achieve a balance between supply and demand and lead to more stability in global markets." .
For his part, Prince Abdulaziz bin Salman affirmed that the invitation of the Deputy Prime Minister and Minister of Oil and the ministerial delegation comes within the framework of the Kingdom's interest in strengthening relations with the brothers in Iraq and working to accelerate the implementation of joint projects in several fields.
He urged the formation of joint committees to resolve the projects that were agreed upon earlier in the sectors of gas investment, electrical connection and petrochemical projects.
He expressed the Kingdom's readiness to cooperate and establish joint projects in all sectors that Iraq needs, praising the human capabilities, minds and experiences that Iraq possesses, in addition to its economic capabilities and natural resources that it possesses, as it is able to transform it into an important economic force in the region and the world.
The ministerial delegation, headed by the Deputy Prime Minister and Minister of Oil, had arrived in Riyadh at the invitation of the Saudi Minister of Energy for a one-day visit during which they would hold talks with the Saudi Ministry of Energy and Aramco, SABIC, Aqua Power and others. The delegation included the Undersecretary for Energy Affairs and the Undersecretary for Liquidation Affairs. And distribution, Hamed Younis, the Ministry's advisor for energy affairs, the general manager of the South Gas Company, the general manager of the Oil Marketing Company (SOMO), the general director of the Studies, Planning and Follow-up Department, the general manager of the Contracts and Licensing Department, and a number of officials in the Ministry of Oil.
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