Iraq Seeks to Expand in Gas Investment, Renewable Energy Production

A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. REUTERS/Essam Al-Sudani/Files
A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. REUTERS/Essam Al-Sudani/Files
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Iraq Seeks to Expand in Gas Investment, Renewable Energy Production

A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. REUTERS/Essam Al-Sudani/Files
A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. REUTERS/Essam Al-Sudani/Files

Iraq’s Oil Minister Ihsan Abdul Jabbar announced Saturday that Iraq would rely on green energy to invest in gas and produce renewable energy.

During his participation at a workshop organized by the International Energy Organization (IEA), the Minister stressed the government and ministry’s keenness on supporting clean energy projects.

This support is represented by implementing prime projects in associated gas investment, reducing oil hydrocarbon emissions and increasing projects of electricity production via alternative energy.

Abdul Jabbar stated that Iraq has taken practical steps to guarantee a gradual shift towards green and renewable energy.

Iraq adopted a clear strategy by contracting with international companies specialized in this field in Basra, Maysan and Dhi Qar, he noted, adding that Iraq established the Basra Gas Company.

The Iraqi minister went on saying that the country signed an agreement with Total. This agreement consists of a series of investment projects in associated gas.

The ministry is meanwhile carrying out other projects. The investment of up to 2,600 million standard cubic feet daily also falls under the Ministry of Oil plans to invest in associated gas from the southern provinces’ fields.

Another key interest of Iraq is to add 12 kilowatts to the national electricity system through the use of alternative energy, the minister continued.

This would be accomplished by contracting with leading international firms operating in this sector and seeking to switch to the use of gas instead of heavy fuels.



Saudi MODON Signs Contract for First Food Factory in Jeddah

Saudi MODON Signs Contract for First Food Factory in Jeddah
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Saudi MODON Signs Contract for First Food Factory in Jeddah

Saudi MODON Signs Contract for First Food Factory in Jeddah

The Saudi Authority for Industrial Cities and Technology Zones (MODON) signed a contract with Nestlé to allocate a 117,000-square-meter industrial plot in the Jeddah Third Industrial City.

The contract aims to establish the first food factory in the Kingdom, scheduled to open in 2025, with an initial investment of SAR270 million to boost local production, reported the Saudi Press Agency on Sunday.

The signing ceremony was held under the patronage and in the presence of Minister of Industry and Mineral Resources Chairman of MODON Bandar bin Ibrahim Al-Khorayef, MODON CEO Eng. Majed Al-Argoubi and Nestlé Saudi Arabia CEO Robert Helou.

In its initial phase, the project will focus on producing baby food and launching an automated production line equipped with the latest packaging technologies operated by qualified national food industry personnel.

The project is expected to create hundreds of direct and indirect jobs during its first phase, with an initial annual production capacity of 15,000 tons.

In line with the National Industrial Strategy, MODON seeks to boost the food industries sector through the food cluster initiative in Jeddah's second and third industrial cities. The food cluster aims to enhance supply chains and promote exports by providing an integrated and supportive environment, which positively impacts the growth and development of the food industry sector in the region.