Abdul-Mahdi: Iraq needs to convert the oil and gas to an engine for sustainable economic development

the oil and gas as a drive for sustainable and inclusive economic development.

Adel Abdul-Mahdi said in a statement that "Iraq's reserves of conventional oil if completed oil explorations and surveys in the country will exceed 200 billion barrels, pointing out that it is third or fourth rank globally”.

He added, "Iraq has proven reserves of natural gas in its both free and accompanying shape of an estimated 132 trillion standard cubic feet (Tscf) to occupy it 12 rank globally, and is expected to complete the explorations that reservists to 280 trillion standard cubic feet, (Tscf), which will put it in ranked fifth in the world.

"We believe that the joint investment and cooperation, especially in the works of Arab and regional exploration, drilling and energy integration of and piping, tanks , tankers, ports and refineries and many other joint ventures, is one way to develop our economies and to accommodate the workforce in our countries and convert our national companies to companies that have possibilities and capabilities at technological and scientific levels and global standards that allow them to invest in our countries,” he said.