Iraqi Oil Industry Takes Significant Steps Towards Development
The Iraqi Oil Minister has announced that substantial advancements are being made towards the growth of the oil sector. “Investment in the initial stages of gas projects has surged to over 67 percent. Iraq is committed to eliminating gas flaring by 2028 and achieving self-sufficiency in gas production,” he stated.
On March 3, 2025, Deputy Prime Minister and Oil Minister Hayan Abdul Ghani held discussions with a German delegation, which included representatives from the German Embassy in Baghdad, the German Chamber of Commerce, and various oil and non-oil industry experts.
Minister Abdul Ghani emphasized Iraq’s eagerness to collaborate with diverse stakeholders, particularly German companies, citing their extensive experience and quality standards that align well with Iraq’s industrial goals.
“Iraq is witnessing significant progress in the oil sector, particularly in the investment of associated gas, with a notable increase in investment rates from 53 percent to more than 67 percent,” Abdul Ghani noted.
The Minister reaffirmed Iraq’s commitment to halting gas flaring and attaining self-sufficiency in gas production.
“Our ministry is embarking on major projects in the gas investment sphere, with the gas development project in Basra being paramount. In partnership with Total, this project aims to invest in 600 million cubic feet of gas resources, progressing in two phases, in addition to various other initiatives targeting gas fields.”
