Iraq Is Looking for American Investments
Iraqi Oil Minister Hayan Abdel–Ghani is traveling to the United States, where, among other things, he intends to offer American oil and gas companies to invest in the development of ten oil and gas blocks.
Iraq is actively licensing its mineral resources and offering them to international investors. At least 7 rounds of license sales have already taken place, with Chinese companies winning them.
American companies did not participate in any of the rounds.
Now, during his visit to the United States, the oil Minister, in addition to issues of energy cooperation, intends to invite American gas and oil companies to participate more actively in the further development of Iraqi oil and gas reserves.
Iraq has vast oil and gas reserves, but does not have investments to develop them. The country is experiencing a shortage of energy, so it is forced, for example, to use mainly imported (Iranian) gas for energy needs. Therefore, Baghdad intends to attract foreign investors to extract resources and ensure its own energy needs.
