The Iraqi Ambassador to Egypt Qahtan Taha Khalaf has stated that the time is ripe for Egyptian oil companies to boost their role in Iraq, given their valuable experience in executing significant projects. 

This statement was made during a meeting with Minister of Petroleum and Mineral Resources Karim Badawi in New Alamein City, where they discussed enhancing bilateral cooperation in oil and gas and increasing the involvement of Egyptian companies in Iraqi projects.

The ambassador highlighted the success stories of Egyptian companies in Iraq, which have encouraged further cooperation and expanded their presence in the country.

He also pointed to the opportunities available for Egyptian companies to deepen their cooperation, especially in light of Iraq’s expansion of oil-associated gas projects and its strategy for exploiting natural gas resources.

The ambassador also highlighted the importance of the Egyptian-Iraqi memorandum of understanding (MoU) in the field of oil and gas, which was renewed last year. He emphasized that this MoU provides a framework through which cooperation between Egyptian and Iraqi companies can be maximized.

On his part, Badawi stressed the need to elevate cooperation between the two countries to new levels, taking full advantage of the available opportunities and supporting the exchange of expertise.

The minister noted that the distinguished capabilities and potential of Egyptian petroleum sector companies in executing projects both locally and regionally create strong opportunities for expanding their activities in Iraq.

He mentioned that many companies are continuing their external expansion efforts to enhance their successful track records, including Petrojet, Enppi, the Egyptian Maintenance Company (EMC), and the Egyptian Drilling Company (EDC). He pointed out that the past years have seen successful cooperation and partnerships between the Egyptian petroleum sector and Iraqi oil institutions, which can be further developed to increase collaboration.