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- SATURDAY, 05-11-2024, PM 1:47
- KARAR AL-ASSADI
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Today, Saturday, Prime Minister Muhammad Shiaa Al-Sudani considered the vital development road project “the Great Iraqi Project,” through which the state seeks to establish a new situation for the global energy market.
This came in a speech he delivered during the launching ceremony of the fifth supplementary licensing round and the sixth round, which includes 29 projects for oil and gas exploratory fields and blocks, distributed among 12 Iraqi governorates.
Al-Sudani said in the speech, "We have included within the preliminary designs of the development road project the establishment of a line to transport oil and gas. We are establishing a new situation for Iraq on the level of the global energy market."
He stressed, "We have dozens of international companies competing to invest wealth, and this is evidence of Iraq's increasing interconnectedness with the global economy."
Al-Sudani also indicated the initiation of “real reforms in tax, customs, and banking reform, to complete the ideal investment environment for the work of oil companies.”
The Prime Minister directed, “The Ministry of Oil to formulate this policy and rush strongly without hesitation to develop optimal plans for investing wealth,” saying: “You will find full support from the government and the House of Representatives.”
He stressed that "we will not pay attention to obstructive voices, and we stress the Ministry of Oil to initiate confident and expressive measures," calling on investing companies to carry out their tasks as soon as possible.
Al-Sudani concluded his speech by saying, "We were keen to distribute the projects in more than one governorate to achieve the broadest development in all governorates of Iraq."
The development road project aims to link the port of Al-Faw in southern Iraq, which is rich in oil, with Turkey, turning the country into a transit center by shortening travel time between Asia and Europe in an attempt to compete with the Suez Canal.
The Iraqi government envisions high-speed trains transporting goods and passengers at speeds of up to 300 kilometers per hour, in addition to extending lines to local industrial and energy centers, which could include oil and gas pipelines.
According to the plans, the main transportation roads will be linked to the main port of Al-Faw on the shores of the Gulf through modernizing and building more than 1.2 thousand kilometers of railways and highways linking Iraq to neighboring countries.
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