Iraq in­vites Kuwaiti firms to in­vest in oil sec­tor

Kuwait Times - - LOCAL -

Iraqi Oil Min­is­ter Jab­bar Al-Luaibi, meet­ing with Kuwait’s Am­bas­sador in Bagh­dad Salem Al-Za­manan on Mon­day, in­vited Kuwaiti com­pa­nies to in­vest in the oil sec­tor in Iraq. Luaibi ex­pressed keen­ness to see Kuwaiti com­pa­nies work and in­vest in oil and en­ergy sec­tor in Iraq, Za­manan said in a state­ment following the meet­ing. He said they dis­cussed co­op­er­a­tion in oil and en­ergy sec­tor, as well as ex­plor­ing new hori­zons to­wards bet­ter eco­nomic re­la­tions.

Iraqi oil min­istry is pre­par­ing to of­fer 12 oil fields for in­vestors. The fields are in Basra, Maysan and Waset. The Iraqi government has granted li­censes for scores of for­eign oil com­pa­nies, boost­ing daily oil pro­duc­tion to over four mil­lion bar­rels.

Mean­while, Iraq’s Basra In­vest­ment Com­mis­sion yes­ter­day urged Kuwaiti busi­ness­men, in­vestors and firms to at­tend a forth­com­ing con­fer­ence to ex­plore in­vest­ment op­por­tu­ni­ties in the south­ern Iraqi prov­ince.

The com­mis­sion is now co­or­di­nat­ing with the Kuwaiti side for a wide scale in­vest­ment con­fer­ence to be held in Kuwait, most likely late in Novem­ber, which will see up to 200 op­por­tu­ni­ties of­fered to in­vestors, di­rec­tor Ali Ja­sib said. The idea of the con­fer­ence emerged dur­ing a visit by Bas­rah gov­er­nor Ma­jid Al-Nas­rawi to Kuwait ear­lier in 2016, he said. The po­ten­tial in­vest­ment op­por­tu­ni­ties cover agri­cul­ture, in­dus­try, hous­ing, ed­u­ca­tion, and in­fra­struc­ture. Ja­sib noted that the gov­er­norate has been re­ceiv­ing in­vest­ment re­quests from Kuwaiti firms, the last of which from the Bukham­seen Hold­ing Group, in part­ner­ship with the Iraqi Al Sha­lal Al Azraq Group, to build a hous­ing com­plex near the Bas­rah In­ter­na­tional Air­port. — KUNA

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