Iraq to allow investment for generating power

Shafaq News / The Parliamentary Oil and Energy Committee revealed, on Thursday, the first government move away from Iran to invite foreign companies to invest  in generating power stations, after the United States renewed the exemption of Iraq from sanctions from importing energy from Iran.

 A member of the committee, Amjad Al-Oqabi, told Shafaq News agency "The Parliamentary Oil and Energy Committee hosted the Minister of Oil, Ihssan Abdul-Jabbar, to discuss several files including gas investment from the natural fields in the country."

 Al-Oqabi added, "There are two important gas fields,  Al-Mansuriyah in Diyala Governorate, and Okaz field in Al-Anbar Governorate," noting that "the oil minister has promised the committee that he will invite foreign international companies such as Chinese, Japanese, Russian and other companies to invest gas."

 He said, "There are large quantities of pure gas in these fields, and if international companies invest in, it is possible at the same time to cover Iraq's need and dispense with importing Iranian gas in generating power stations and exporting gas abroad."

  Earlier today a  US State Department official confirmed , that the United States renewed the exemption of Iraq from sanctions to import electricity from Iran for a period of 60 days.

 The US official indicated that the extension would enable Baghdad to take effective measures to reduce its dependence on Iran for energy.

 Observers point out that "the renewal of a shorter period may be a reflection of the strained relations between the two countries due to the repeated attacks on US forces in Iraq."

 Earlier, the US Undersecretary of State, David Hale, said during a Senate hearing that Iraq was able to reduce its dependence on Iranian energy within 60 days.