Oil Minister: We are in the process of forming Wasit Oil Company

INA-  Baghdad



 The Wasit Oil Company's establishment work was confirmed on Thursday by Hayyan Abdul Ghani, the Deputy Prime Minister for Energy Affairs and Minister of Oil. He also mentioned that international companies have been invited to develop three fields and exploratory spots in Wasit Governorate.  

"Deputy Prime Minister for Energy Affairs and Oil Minister Hayyan Abdul Ghani arrived in Wasit province and met with its governor, Muhammad Jamil al-Mayahi, and members of the government and local departments in the province," reads a statement from the Ministry of Oil that the Iraqi News Agency (INA) obtained.  


"Wasit province gains government attention and support, and we are keen to communicate with the local government and with the governor to advance the service reality and develop the oil industry," the oil minister reportedly stated in the statement.  

He emphasized "work to establish the Wasit Oil Company" and noted that "issues and projects of common interest were discussed to advance the service reality and the development of the oil industry in the province." 

  "International companies were invited to develop three fields and exploratory spots in Wasit province as part of the fifth complementary oil licensing round," he said, pointing out that "specialized companies were invited to participate in investment opportunities to build the Wasit investment refinery."

Noting that "allocations of social benefits have been increased to support the service and health sectors for citizens," the oil minister placed emphasis on "working to develop the distribution sector and promote the service reality in the province."  

Governor Mohammed Jamil al-Mayahi of Wasit, for his part, expressed gratitude for "the government and the ministry's support to develop the oil industry in the province" and expressed the hope that "more development projects that contribute to the advancement of the province's economic reality" would be accomplished.