Electricity ministry announces starting the investment in gas fields and identifies two types of financial commitments to Iran

Economy

20-06-2022, 11:34

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Baghdad-INA

The Ministry of Electricity identified on Monday, two types of financial commitments towards Iran, while announcing that Ministry of Oil had actually invested in Iraqi gas fields, it confirmed at the same time that this step would reduce dependence on importing Iranian gas.

"Iraq's financial obligations towards Iran are of two types, the first is financial dues in exchange for the supplied gas, as a formula was reached with the Trade Bank of Iraq TBI to record normal dues, and the second is other dues to contractors and companies supplying electrical power equipment,” said The technical advisor to the Minister of Electricity, Abdel Wahab Kadhim, to the Iraqi News Agency (INA).
Kadhim added, "The issue of gas falls under the jurisdiction of the Ministry of Oil, and it has actually started investing in the very important gas fields in the Okaz and Mansouriya fields."