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The Oil Ministry Invites the International Companies & Private Sector to Invest Oil & Gas

Jabbar Allibi press conference

Mr. Jabbar Allibi the minister of oil said that the ministry has started to apply an ambitious plan to open the door of investment to the specialized companies in oil & gas.

Mr. Allibi confirmed on the necessity of encouraging the investment and work on to give the specialized companies and the private sector bigger chances than the governmental to build, develop and rehabilitate the oil facilities, especially the well-known global oil service companies to contribute in developing the undeveloped small oil fields according to the method of service contracts. As well as to apply the projects of developing the infrastructure in association with the well-known, technically & financially qualified private sector companies whom are specialized with applying their tasks. He said also that the ministry started inviting the specialized companies to invest in the refining sector like the refineries of Kirkuk, Samawa, Kut and Basra according to the BOT & BOO method. While there are other projects will be published soon by the ministry.

Mr. Allibi “during his visit to the Iraqi Drilling Company” ordered the company to open the horizons of association & cooperation with the well-known international companies to enter in a real association to develop this sector and achieve a quantum leap in their work, as well as to grow the achieved financial outcome in order to be in the level of the international companies by depending on their own capabilities. Mr. Allibi said also that the ministry is going to apply the development plans & programs according to the studies which can accelerate the development of the oil & gas sector by making use of the international experiments to achieve a quantum leap in the performance, the application and raising the outcome.

Source: Ministry of Oil, 29.8.2016


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