Iraqi Oil Minister Highlights Importance of Oil and Gas Development
Iraqi Oil Minister Hayyan Abdul Ghani has underscored the critical need to enhance oil field operations within the North Oil Company, emphasizing the imperative to invest in gas production to elevate output levels. This initiative aims to fulfill the growing energy demands of both the local energy and industrial sectors.
During a recent meeting that included officials, consultants, and a delegation from BP, the Minister reiterated ongoing negotiations with the company concerning the operations of the four North Oil fields in Kirkuk. This effort aligns with the government’s overarching strategy and focuses on the investment of associated gas resources, which are essential for generating electric power. The ministry indicated that discussions are actively progressing to refine the technical, economic, and contractual dimensions of the project.
The emphasis on developing Iraq’s oil and gas resources reflects a commitment to meeting national energy needs and improving the country’s overall economic landscape. Continuous collaboration with partners like BP will be instrumental in achieving these objectives.
