A number of investment opportunities in Iraq’s gas and petrochemicals industry have been presented to Saudi investors, a senior Iraqi official told Asharq Al-Awsat.
Talks are being held with Saudi Aramco and Saudi Basic Industries Corporation (SABIC) to invest in the Nebras petrochemicals project and the Akkas gas field, which produced 300 million standard cubic feet per day (mscf/d).
The Iraqi government is in talks with SABIC to participate in the Nebras Petrochemicals project, which will have investments of $6-8 billion, according to the Undersecretary of the Iraqi Ministry of Oil, Hamid Al-Zobaie.
Moreover, Al-Zobaie confirmed progress in talks with Aramco for the exploration of gas fields, including the Akkas field, noting that Iraq’s gas reserves amounted to 132 trillion cubic feet (tcf).
Al-Zobaie assured Saudi investors who intend to enter the Iraqi market through the oil and gas industry that fields are safe due to coordination with security forces.