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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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    Iraq signs memorandums of understanding with American companies in the fields of electricity, oil an

    Rocky
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    Iraq signs memorandums of understanding with American companies in the fields of electricity, oil an Empty Iraq signs memorandums of understanding with American companies in the fields of electricity, oil an

    Post by Rocky Thu 18 Apr 2024, 5:31 am

    Iraq signs memorandums of understanding with American companies in the fields of electricity, oil and medicine



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    2024-04-18 01:26
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    Shafaq News/ Iraqi Prime Minister Muhammad Shiaa Al-Sudani signed memorandums of understanding with major American companies to implement projects in the electricity, oil, medicine, and economic sectors.

    The Sudanese media office stated in a statement received by Shafaq News Agency, that the latter met in the American capital, Washington, yesterday evening, Wednesday (Baghdad time), with a number of presidents and representatives of major American companies, in a session held by the American Chamber of Commerce.

    The meeting included a dialogue session with the attendees, during which Al-Sudani explained a number of questions that were raised during the meeting, related to the investment environment in Iraq and the facilities provided by the government to the private sector.

    During the meeting, Al-Sudani sponsored the signing ceremony of a number of memorandums of understanding between the Ministries of Electricity and Oil and the Iraq Fund for Development, with American institutions and companies. Similar memorandums of understanding were also signed between the Iraqi private sector and American companies in the fields of energy and pharmaceutical industry.

    He pointed to the openness of the investment environment in Iraq to attract reputable international companies to participate in the economic renaissance and infrastructure projects that Iraq is witnessing, in addition to the package of financial, banking and administrative reforms that the government initiated and accomplished a high percentage of within a year and a half of its life.

    Al-Sudani said, "The outcome of the discussions and understandings with the American side was the necessity of continuing to develop bilateral relations in various economic, social, and security sectors."

    He added, "We agreed to strengthen the relationship, stimulate the private sector, and support the work of American companies in Iraq," noting that "Iraq is witnessing remarkable stability despite the challenges in the region, and we are working to distance it from hotbeds of conflict and escalation."

    He continued, "The government has made important strides in economic reforms and implementing major projects that contribute to solving problems," stressing, "We presented to Parliament a law that addresses the challenges facing the private sector."

    Al-Sudani added, "According to the US Department of the Treasury, 80% of transfers are in accordance with international standards, and we are working to complete the remaining percentage," pointing to "the completion of the unified treasury account and the integrated banking system, modernizing collection and customs reforms, and redirecting support in the right direction."

    He explained, "Our support for the private sector is an approach we are following, and for the first time we have granted it sovereign guarantees to support projects," noting that "the Iraq Fund for Development aims to involve the private sector, and addresses bureaucracy and routine for entering companies."

    Al-Sudani stated, "We have carried out tax and administrative reforms related to registering company branches, to provide an attractive investment environment."

    He pointed out that "the volume of exchange between Iraq and the United States does not exceed 10 billion dollars," stressing, "We have developed a comprehensive vision for the optimal investment of oil and gas, and the sixth round of licensing, related to natural gas fields, is being presented for the first time."

    He said, "We have a plan to reach self-sufficiency in gas and stop imports within 3-5 years," adding, "We have proposed integrated projects in 6-8 fields throughout the governorates, according to a model for developing oil, using associated gas, and establishing an electrical station and a petrochemical industry in the same location."

    He concluded by saying, "For the first time, Iraq is moving towards establishing a fixed platform to receive liquefied gas, and this is an opportunity offered to American companies and other companies. We also signed a contract with KBR to prepare a preliminary study on the fixed platform, for the purpose of receiving gas and exporting it in the future."

    The statement explained that the government memorandums of understanding that were signed are:

    A memorandum of understanding between the Ministry of Electricity and General Electric Company (GE) in the field of developing the energy sector.

    A memorandum of understanding between the Ministry of Oil and Hanwell Company, to conclude a partnership in the field of developing strategic plans for oil fields and associated gas.

    A memorandum of understanding between the Ministry of Oil and General Electric Company in the field of developing oil fields and associated gas.

    A memorandum of understanding between the Iraq Fund for Development and the American company MACK for engines and equipment, in the field of manufacturing specialized vehicles.

    Second: Memorandums of understanding signed by the Iraqi private sector with American companies:

    Memorandum of understanding with Baxter International Company for cooperation in the field of dialysis supplies.

    Memorandum of understanding with the American company KBR to develop oil fields.

    Memorandum of understanding with KBR in the field of processing primary gas and converting it into liquid and associated gas.

    Memorandum of understanding between the National Bank of Iraq (NBI) and the American International Financial Development Corporation. 

    An agreement with Trans Atlantic Petroleum Company in the field of developing and managing oil fields.

    A memorandum of understanding with the American company Hanwell in the field of developing associated gas fields and stopping its burning.

    A memorandum of understanding with the American company Hanwell for development, automation, and remote control services.

    A memorandum of understanding with the American company Baker Hughes in the field of using smart solutions; To stop burning gas and develop and maintain oil fields.

    Memorandum of understanding with Emerson in the field of technology and automation in oil fields.

    Memorandum of understanding with GE in the field of supporting the oil industry.

    Memorandum of understanding with Ark Energy Company in the field of manufacturing associated gas.

    Memorandum of understanding with Emerson in the field of energy development and equipment provision.

    Memorandum of understanding with GE in the field of providing equipment to process associated gas in electric power generation.

    An agreement with Hanwell Company in the field of developing and maintaining oil fields and stopping gas burning.
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