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Iraq & GE Discuss the Investment in Thi-Qar Fields

Source: 3/12/2018, Location: Middle East

Mr. Jabbar Ali Hussein Al-Luiebi the minister of oil met with Mr. Tawfeek Al- Ezz the manager of General Electric Company in Iraq and his entourage. The two parties discussed about the ways to enforce and expand the bilateral cooperation in the oil & gas industry sector in Iraq.

Mr. Al-Luiebi confirmed on the necessity of investing the associated gas with the oil extraction from the fields of Thi-Qar governorate to transform it into a useful energy instead of flaring it, in order to add more quantities of gas to the national production.

Mr. Al-Luiebi said that the plan of the ministry is to cooperate with the global well-known companies such as GE in order to invest the gas and stop its flaring. It is worthy to say that GE Company is executing many projects in Iraq in the sectors of oil & energy. At the same time, the ministry of oil & GE are preparing the final touches for the investment contract of associated gas in the fields of Thi-Qar “which is supposed to be signed before the end of March”.

Mr. Al-Luiebi said that this contract is considered as a significant contract in the gas investment. And there are many other investment contracts in the other governorates. He also stressed on the necessity of associating the Iraqi companies and to provide jobs for the workers, in addition to building the residential complexes for the oil sector employees.

Mr. Al- Ezz said that his company is working according to the same methods. And it is also working on to finish the procedures to sign the contract, and associate an Iraqi company with it to enable the Iraqi employment to participate in this project and the other projects. He also confirmed on the keenness of his company to develop the associated work with the ministry of oil to develop the oil & gas sector in Iraq.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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