Baghdad and London are discussing expanding the participation of British oil companies and enhance cooperation

2016-12-13 at 16:49


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Oil Minister Jabbar allaibi, Tuesday, with Britain's Ambassador to Iraq, Frank Baker, ways of strengthening bilateral relations in the oil and gas industry.

Allaibi emphasized, during the meeting, "the need to strengthen and develop relations with the United Kingdom in all fields, particularly in the oil and gas industry", calling for "expanded participation of British oil companies through investment in projects sharing contracts announced by the Ministry.

Oil Minister to Baghdad to provide appropriate working environment for companies and invested in the new British Ambassador to Iraq, while his eagerness to cooperate with Iraq in all fields, including the oil and gas sector.

Allaibi said "the commitment of Iraq to cut oil production in compliance with the agreement of the Organization of petroleum exporting countries (OPEC) to support prices."

He said that "Iraq is studying several options for applying cuts including reduced production from oil fields in Kirkuk and southern fields developed by major oil companies or Government-run production in other regions, in order to get to the numbers that have been agreed with OPEC."

OPEC agreed in November to cut output by 1.2 million barrels a day from January 2017, Iraq will reduce its production by about 200, 000 barrels a day, though he had requested exemption from the reduction of the conditions and cost of war on the terrorist organization (ISIS)


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