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Iraq Seeks US Investment in Gas as New Projects Target Energy Independence

Iraqi flag in front of an oil field (AFP)
Iraqi flag in front of an oil field (AFP)
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Iraq Seeks US Investment in Gas as New Projects Target Energy Independence

Iraqi flag in front of an oil field (AFP)
Iraqi flag in front of an oil field (AFP)

Iraq plans to offer 10 gas exploration blocks to US companies during an upcoming visit by Oil Minister Hayan Abdel-Ghani to the United States, he announced on Saturday.
The move is part of Baghdad's efforts to attract US investment into its energy sector, following previous licensing rounds where Chinese firms secured the majority of available fields.
The 10 gas blocks, left unclaimed following six licensing rounds, will be presented in a new bidding process, Iraqi state media said, and comes as Iraq seeks to bolster its domestic gas production.
Abdel-Ghani also said Iraq will launch a new gas investment project by the end of the year at the Al-Faihaa oil field in southern Iraq. The project, with a capacity of 125 million standard cubic feet (mscf), is a key component of Iraq's strategy to enhance its energy infrastructure.
The latest initiative follows recent agreements to develop 13 oil and gas blocks, aimed at increasing Iraq's crude and gas output to supply power plants, which currently rely heavily on Iranian gas imports.

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Albudaiwi: Advantage Oman Forum Offers Valuable Investment Insights

Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi
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Albudaiwi: Advantage Oman Forum Offers Valuable Investment Insights

Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi
Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi said that the Advantage Oman Forum is a valuable opportunity offered by Oman to discuss and review investment opportunities and initiatives, as well as future transformations in promising sectors in this field.
This came during Albudaiwi's participation in the first edition of the Advantage Oman Forum, which was held under the patronage and attendance of Omani Deputy Prime Minister for Defense Affairs Sayyid Shihab bin Tarik Al Said, and in the presence of a number of ministers of the GCC countries, Sunday in Muscat. A group of senior officials and decision-makers participated in the forum, SPA reported.
The Secretary-General stated that Oman's Organisation of this forum reflects the insightful vision of the wise Omani leadership to strengthen the national economy and attract global investments, thus contributing to achieving sustainable development goals. He also praised the forum's activities and the workshops as well as the dialogue sessions it included, which provide the elements of success and sustainability for this forum, making it a regional and international platform and a destination for those interested in economic and investment affairs in Oman.
Furthermore, Albudaiwi added that Oman, with its attractive investment environment, advanced infrastructure, well-thought-out economic policies and significant economic, in addition to investment growth indicators, has become a destination for investors from around the world, stressing that this strengthens its position as a key pillar in the economies of the GCC countries and supports the council's aspirations for regional economic integration.
The Secretary-General concluded his statement by expressing his confidence that the forum will achieve positive results that will contribute to expanding the horizons of economic and investment cooperation between the GCC countries and the world, and support the comprehensive development process in the region.