Iraq opens western gas fields to global investors

Shafaq News- Baghdad

Iraq's Oil Ministry on Wednesday invited international energy companies to compete for the development of gas fields in the country's western region, part of efforts to expand production and attract investment.

Addressing the Oil Companies International Forum in Baghdad, Oil Minister Bassem Mohammed Khudair al-Abadi described foreign firms operating in Iraq as partners rather than contractors, stressing that cooperation and dialogue were essential to implementing contractual obligations and addressing challenges.

Read more: Iraq's investment story: From security to opportunity

The minister also highlighted Prime Minister Ali Al-Zaidi's directive to review tender costs, particularly contracts with inflated prices, while maintaining approved quality standards in light of current global conditions.

With concerns over the Strait of Hormuz easing, Al-Abadi invited international companies to submit applications to receive their dues through the State Organization for Marketing of Oil (SOMO).

Read more: No exit but Hormuz: Iraq's economic vulnerability exposed