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Saudi Investment Minister Discusses Boosting Cooperation with Egyptian Transport, Industry Minister

Saudi Minister of Investment Eng. Khalid Al-Falih and Egyptian Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir meet in Alamein. (SPA)
Saudi Minister of Investment Eng. Khalid Al-Falih and Egyptian Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir meet in Alamein. (SPA)
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Saudi Investment Minister Discusses Boosting Cooperation with Egyptian Transport, Industry Minister

Saudi Minister of Investment Eng. Khalid Al-Falih and Egyptian Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir meet in Alamein. (SPA)
Saudi Minister of Investment Eng. Khalid Al-Falih and Egyptian Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir meet in Alamein. (SPA)

Saudi Minister of Investment Eng. Khalid Al-Falih and Egyptian Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir held talks on Thursday in Egypt’s city of Alamein.

The officials discussed fostering collaboration between Saudi Arabia and Egypt and explored avenues to boost investment opportunities in the industrial, transportation, and logistics sectors.

Saudi Ambassador to Egypt Saleh bin Eid Al-Husseini and a delegation of Saudi investors were present at the meeting.

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Iraq Signs Deal with BP to Develop Kirkuk Oil and Gas Fields

This handout picture released by Iraq's Prime Minister's Media Office on August 1, 2024, shows him (C) looking on as BP CEO, Murray Auchincloss, (L) and Iraq's Minister of Oil, Hayan Abdul Ghani al-Sawad, sign a memorandum of understanding to develop four oil fields in Kirkuk. (Photo by IRAQI PRIME MINISTER'S PRESS OFFICE / AFP)
This handout picture released by Iraq's Prime Minister's Media Office on August 1, 2024, shows him (C) looking on as BP CEO, Murray Auchincloss, (L) and Iraq's Minister of Oil, Hayan Abdul Ghani al-Sawad, sign a memorandum of understanding to develop four oil fields in Kirkuk. (Photo by IRAQI PRIME MINISTER'S PRESS OFFICE / AFP)
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Iraq Signs Deal with BP to Develop Kirkuk Oil and Gas Fields

This handout picture released by Iraq's Prime Minister's Media Office on August 1, 2024, shows him (C) looking on as BP CEO, Murray Auchincloss, (L) and Iraq's Minister of Oil, Hayan Abdul Ghani al-Sawad, sign a memorandum of understanding to develop four oil fields in Kirkuk. (Photo by IRAQI PRIME MINISTER'S PRESS OFFICE / AFP)
This handout picture released by Iraq's Prime Minister's Media Office on August 1, 2024, shows him (C) looking on as BP CEO, Murray Auchincloss, (L) and Iraq's Minister of Oil, Hayan Abdul Ghani al-Sawad, sign a memorandum of understanding to develop four oil fields in Kirkuk. (Photo by IRAQI PRIME MINISTER'S PRESS OFFICE / AFP)

Iraq has signed a preliminary agreement with British energy group BP to develop the northern Kirkuk oil and gas fields, the Iraqi prime minister's office said on Thursday.
Under the deal, which was signed in Baghdad between Iraq's oil minister Hayan Abdel-Ghani and BP CEO Murray Auchincloss, BP will develop four oil and fields in the Kirkuk region, the statement from the Iraqi prime minister's office said.
BP will start drawing up a major plan to boost output capacity of crude oil and gas from Kirkuk, Bai Hasan, Jambour and Khabbaz fields, Iraq oil ministry officials said.
The Kirkuk field's reservoir was discovered in 1927 and is where Iraq's oil industry was founded, reported Reuters.
Iraq, the second biggest producer in the Organization of the Petroleum Exporting Countries behind Saudi Arabia, currently has the capacity to produce almost 5 million barrels per day.