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The Prime Minister announces the imminent signing of the sixth round of gas investment
The first 2023/06/17
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Prime Minister Mohamed Shia Al-Sudani announced the signing of important contracts for gas investment, and that licensing contracts for the sixth round of gas investment will soon be signed, and stressed the need to develop plans to keep pace with global transformations towards energy alternatives.
Al-Sudani said in his speech during the celebration of the 63rd anniversary of the founding of OPEC in Baghdad with international participation: "Oil still represents a major source of energy in the world, and it has its importance in politics, economy, development and the environment, and its importance to countries that depend on it, for production or consumption."
He pointed out that "the entry of natural and associated gas into the energy investment market has added new responsibilities to member states, as gas has become a vital resource for many industries, which requires member states to bear in mind the multiplying challenges they face."
And he indicated that "the government has been concerned, since its formation, with the energy file in all its details, foremost of which is what is related to oil and natural and associated gas." development, as well as the environmental impacts associated with the oil industry.
He continued, "Soon, the sixth round will be signed, which targets important areas of natural gas fields." gas over the next few years.
Al-Sudani explained that "investing in gas will end the waste of gas wealth, which costs Iraq nearly $4 billion annually," and indicated that "we have placed it on top of our priorities to make way for the private sector and international companies, and to provide them with facilities."
The Prime Minister addressed the guests of the oil and energy ministers of the “OPEC” member states, saying: “The world is looking today for alternatives to traditional energy, and is moving towards alternative energy sources, which will be a competitor to oil and gas within a few years.” He added, “We must prepare from Now, we are making plans to keep pace with the global shifts towards energy alternatives."
For his part, Oil Minister Hayan Abdul-Ghani said: "The organization seeks to achieve oil stability," pointing out that "there is cooperation and coordination between OPEC countries for common interests," and continued, "We proceeded according to a road map to upgrade the Iraqi economy with the support of the Council." Ministers," adding, "We will sign a memorandum announcing the establishment of OPEC in Baghdad on the occasion of the 63rd anniversary."
In turn, Saudi Energy Minister Prince Abdulaziz bin Salman said: "OPEC had an active role in establishing the OPEC Fund for Developing Countries," adding that "the organization has achieved its goals," pointing out that "(OPEC Plus) has maintained the stability of energy markets."
Kuwaiti Oil Minister Manaf Al-Hajri also stated that OPEC is working with 10 countries outside it for the stability of oil and energy prices in the world, and that OPEC represents an important pillar in the world's energy community, and that it confirms its commitment to the stability of global markets.
For his part, OPEC Secretary General Haitham Al-Ghais affirmed that "the organization continues to play a pivotal role in the energy markets."
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