Iraq’s Oil Ministry on Wednesday stressed the importance of dialogue with international oil companies to overcome technical and administrative challenges, as part of broader efforts to strengthen the country’s energy sector.
The statement comes as the Kurdistan Regional Government (KRG) announced the resumption of operations by several foreign oil companies after a period of disruption.
Ministry Highlights Need for Cooperation
In a statement reported by the Iraqi News Agency (INA), Deputy Oil Minister for Extraction Affairs Nasser Aziz emphasized the importance of constructive engagement with global companies during a forum of oil firms operating in Iraq.
He said that cooperation and teamwork are essential to:
– Resolve technical, contractual, and administrative obstacles
– Accelerate development of oil and gas fields
– Improve efficiency and project delivery
Aziz described the extraction sector as a “key pillar of the national economy,” playing a central role in boosting revenues and meeting domestic energy needs.
Plans to Expand Production and Gas Investment
The ministry highlighted that the current phase requires joint efforts between national and international companies to:
– Increase oil production and improve quality
– Develop infrastructure
– Accelerate investment in associated and free gas
– Convert gas resources into economic value
The government also aims to create a favorable investment environment by simplifying procedures and enhancing transparency.
Partnership Approach with Global Firms
Officials stressed that Iraq’s relationship with international oil companies is based on “partnership and integration, not just execution.”
The ministry noted that continuous dialogue and joint review of outstanding issues are essential to:
– Address challenges
– Review project costs
– Speed up contract awards
– Ensure quality and safety standards
It also emphasized the importance of developing Iraqi workforce capabilities through training and knowledge transfer.
Kurdistan Announces Resumption of Oil Production
In a parallel development, the Kurdistan Regional Government announced that several foreign oil companies have resumed operations in the region.
KRG spokesperson Peshwa Hawrami said:
– HKN resumed production at 7,000 barrels per day
– Gulf Keystone restarted operations at the Shaikan field
– DNO will resume production at Tawke and Peshkabir fields on Friday
– Hunt Oil will restart operations in early July
Recovery After Damage to Oil Fields
Hawrami explained that operations had been temporarily halted due to significant damage caused by previous attacks targeting oil fields.
He noted that companies undertook maintenance and rehabilitation work to ensure safe and stable production before resuming operations.
Key Developments
– Iraq stresses dialogue with global oil companies
– Focus on resolving technical and administrative challenges
– Plans to boost production and gas investment
– Kurdistan resumes operations of several foreign companies
– Recovery efforts following damage to oil infrastructure
Conclusion
Iraq’s emphasis on cooperation with international oil companies reflects a broader strategy to strengthen its energy sector and attract investment. Meanwhile, the resumption of production in Kurdistan signals gradual recovery in regional oil operations, contributing to overall stability in the country’s energy output.
