Minister of Oil: A Saudi desire to invest in gas projects and petrochemical industries

Baghdad - INA

Oil Minister Ihsan Abdul-Jabbar Ismail confirmed today, Monday,  Saudi Arabia's desire to invest in gas projects and petrochemical industries.

And the media office of the Ministry of Oil stated in a statement received by the Iraqi News Agency (INA), that "the Minister of Oil discussed, during an extensive meeting that took place via a televised circuit, with the Saudi Minister of Energy, Abdulaziz bin Salman, the expansion of cooperation between the two countries in all fields, including energy, petrochemicals, gas and energy investment. The meeting was attended by Minister of Electricity Majid Mahdi, Investment Authority Chairman Suha Al-Najjar and a number of officials, while officials from Aramco, SABIC and Waco Power attended on the Saudi side.

The Minister of Oil confirmed, according to the statement, that "this meeting comes within the framework of the two brotherly countries' desire to cooperate in implementing a number of investment projects, and that the desire of Saudi companies to hold investment partnerships in free and associated gas investment projects, especially in the Akkas fields in Anbar Governorate and Artawi in Basra Governorate, was discussed." As well as investing in the petrochemical industries, including the Nibras project.

For his part, the Saudi Energy Minister expressed "the Kingdom of Saudi Arabia's desire to achieve partnership and the importance of bilateral cooperation."

He pointed out that "these meetings aim to speed up the implementation of the memoranda of understanding that were signed between the two brotherly countries during the recent period."