Saudi Arabia To Invest In Development Of Gas Field In Western Iraq - Iraqi Oil Minister

Saudi Arabia's state oil and gas giant Aramco will invest in the development of the Akkas gas field in the Anbar province in western Iraq to boost production to 400 million cubic feet of gas per day, Iraqi Oil Minister Hayan Abdul Ghani said on Thursday

DOHA (UrduPoint News / Sputnik - 25th May, 2023) Saudi Arabia's state oil and gas giant Aramco will invest in the development of the Akkas gas field in the Anbar province in western Iraq to boost production to 400 million cubic feet of gas per day, Iraqi Oil Minister Hayan Abdul Ghani said on Thursday.

"It has been agreed with the Saudi Arabia that Aramco will invest in and develop the Akkas gas field in the Anbar province. The aim of the investment in the development of this gas field is to reach a production capacity of 400 million cubic feet per day," the minister said at a meeting of the Iraqi-Saudi Coordination Council.

He also announced the signing of a preliminary agreement with the Kingdom to invest in the Nebras project, describing it as one of the most promising strategic projects in the petrochemical industry in Iraq and the region.

More than 200 businessmen and state officials attended the fifth meeting of the Iraqi-Saudi Coordination Council which was held in Jeddah. Saudi Trade Minister Majid Al Qasabi said that delegations from the two countries discussed many opportunities for cooperation, namely connection to a common electricity grid, the logistics system and investment in general. He was quoted by the Iraqi news Agency as saying that the volume of trade between Iraq and Saudi Arabia reached $1.5 billion in 2022.