And Abdul Ghani said on the sidelines of the Saudi-Iraqi Coordination Council meeting in Saudi Arabia that it was agreed to continue the procedures for the development of the Akkas field, and that Iraq is ready for a joint cooperation and coordination in the field of energy.
The Iraqi side called on Saudi companies to participate in energy projects in Iraq, including in the oil and gas sector.
The Iraqi Oil Minister also called on Saudi companies to invest in the Nibras Al Sharq petrochemical project, which he said is one of the promising projects in Iraq.
Abdul-Ghani also said that “the fifth and sixth rounds of licenses have been launched, which include oil and gas fields bordering Saudi Arabia”, calling on “all Saudi companies specializing in these two rounds for oil fields and gas investments.
He explained: “The economic feasibility of the power connection project has been completed” and that “the Iraqi side is ready for joint cooperation and coordination in the field of energy and oil”.
On Thursday, the Saudi-Iraqi Coordination Council witnessed the announcement of the establishment of the Saudi-Iraqi Investment Company, 100% owned by the Saudi Public Investment Fund, which aims to invest $3 billion in Iraq.
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