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Iraq and Saudi Arabia Sign 18 Memorandums of Understanding Covering Oil and Gas, Liquidation and Projects

The Bilateral Relations Have Witnessed a Great Development in the Past Period, the Exchange of Visits and the Formation of Joint Committees,

The signing of this memorandum of understanding and cooperation represents an important event and an ideal shift in the bilateral relations between the two brotherly countries, especially in the fields of oil and energy, which contributes to the expansion of the area of ​​joint cooperation,

 These include the investment, cooperation, manufacturing, partnership, supply of raw materials, infrastructure, pipes, technical and industrial services, drilling and development, etc. Extractive companies, the liquidation sector, gas, oil projects and drilling were the beneficiaries of this cooperation as well as previous agreements that included marketing sectors Training and others. 

He added that the bilateral relations have witnessed a great development in the past period, the exchange of visits and the formation of joint committees, in order to accelerate the construction of a solid base for bilateral cooperation between brothers.

For his part, Saudi Arabia's Energy Minister Khalid Al-Falih stressed his country's keenness to strengthen relations with its brothers in Iraq and that Saudi companies will open branches in Iraq to achieve more bilateral cooperation frameworks and expand investments in the oil and gas, manufacturing, supply, infrastructure and other sectors. .

Al-Falih added that the cooperation between the two countries was not limited to bilateral cooperation, but included coordination and unification of views and positions in the Organization of Petroleum Exporting Countries (OPEC).

Saudi Energy Minister Khalid al-Faleh arrived yesterday at the head of a delegation to participate in the Basra oil and energy exhibition, which includes 22 Saudi companies and 66 personalities of businessmen.

Source: Ministry of Oil

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