Ali Al-Zaydi, in a meeting with representatives of the coalition of companies participating in the Iraq crude oil pipeline project to ports located in the Mediterranean Sea and the Red Sea, emphasized that the Iraqi government, in light of its goals and despite difficulties and challenges, has adopted an open-door policy in engaging with foreign companies to overcome obstacles and bureaucracy.
Development Goals and Plans
He stated that the government's goal is to increase oil production to 10 million barrels per day and remove all obstacles to this project, which supports the development and stabilization of Iraq's position in global energy supply. This goal means creating the necessary infrastructure to increase production capacity and improve service quality in Iraq's oil and gas industry.
The Prime Minister of Iraq added that improving the economic situation and developing this sector will have a positive and direct reflection on the lives of citizens and emphasized the need to set real prices commensurate with production costs and quality provided. In this context, it is expected that major projects in the oil and gas sector will create jobs and increase investment in the country.
Partnership with Foreign Companies
Al-Zaydi also stated that partnerships with American and multinational companies have positive and significant consequences, and the United States and American companies support strengthening economic partnership with Iraq. These collaborations will not only help develop infrastructure but will also lead to improved production quality and enhance the country's economic situation.
He concluded by emphasizing the importance of maintaining Iraq's sovereignty and stability and the necessity of joint action to strengthen mutual interests. In this regard, Iraq is striving to diversify its crude oil export routes by implementing strategic projects to connect its oil fields to ports in the Mediterranean Sea and the Red Sea, thereby reducing dependence on the Strait of Hormuz.
This plan focuses on two main routes: first, the Basra-Baniyas pipeline, which connects the southern fields, Basra province, and Kirkuk to the port of Baniyas on the Syrian coast and from there to Turkey/Mediterranean. Additionally, the Iraq-Saudi Arabia pipeline (IPSA), which extends approximately 1,568 kilometers from the Al-Zubair field in Basra through Saudi territory to the Al-Mu'ajjiz/Yanbu port in the Red Sea, is another key project.
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