Oil Minister: We are keen to develop the oil industry and increase production and investment

Baghdad-INA 

Oil Minister Hayan Abdul Ghani Abdul-Zahra affirmed today, Saturday, keenness to develop the oil industry and increase production and investment.
The ministry said in a statement received by the Iraqi News Agency (INA), that "today, Saturday, October 29, 2022, a ceremony of handing over and receiving the tasks of the Ministry of Oil took place between Oil Minister Hayan Abdul-Ghani Abdul-Zahra and former minister Ihsan Abdul-Jabbar Ismail.".

According to the statement, Oil Minister Hayan Abdul Ghani confirmed that "the handover and receipt ceremonies come within the democratic practices of Iraq, and today we embody this democratic atmosphere with this ceremony to receive the tasks of the Ministry of Oil from Oil Minister Ihsan Abdul Jabbar Ismail to complete the national march to develop the oil sector, which is the main artery of the federal budget."
Abdul-Ghani added, "We are pleased to meet the agents, consultants and general managers of the oil formations, and we will work together in a team spirit to complete and implement strategic plans and projects to develop production and raise its rates, in proportion to what Iraq has of stockpiles and oil reserves, as well as to complete projects related to gas investment and stopping burning and converting it to Clean energy supplies gas-related industries, hard work in preserving the environment and public health, in addition to activating projects to develop infrastructure for export ports and increase export capacities through accelerating projects to lay pipelines, storage and pumping stations and other facilities.
He stressed the ministry's keenness to "provide a safe environment for foreign investments to develop oil and gas fields, provide support for the national effort to actively contribute to the development of the oil industry, work to strengthen Iraq's role in OPEC and OAPEC, and expand the horizons of cooperation with neighboring countries in a manner that serves common interests.".

He pointed to "the need to pay attention to the refining sector and to complete projects for developing production units, adding new units and reaching self-sufficiency, as well as giving the exploration and extraction sector great importance to enhancing Iraq's hydrocarbon reserves."
He explained that "the government is supportive of energy projects, and the ministry will work to overcome all obstacles to raise the levels of work and achievement in order to achieve the planned goals, and work to provide job opportunities for our citizens according to the government program.".

The minister added that "the ministry will pay great attention to supporting the development of service projects in the governorates, especially oil-producing, and upgrading them in coordination with local administrations and concerned authorities.".

For his part, former Minister Ihsan Abdul-Jabbar Ismail said: "We are happy to fulfill the secretariat and hand over the duties of the ministry to Minister Hayan Abdul-Ghani, who is one of the pillars of the oil sector, and that his selection for this position is appreciated and respected for his high professionalism, and he will work on the maturation of the ministry's work and the completion of projects that raise Iraq to the ranks of developed countries in the oil and gas industry.