Iraq's Oil Minister Hayan Abdel Ghani al-Sawad confirmed Tuesday the State of Qatar's interest in participating in obtaining rights for oil and gas exploration in his country, which were announced Tuesday at Qatar Economic Forum 2023.
Al-Sawad told Qatar News Agency that the forum was an opportunity to announce a number of energy projects that Iraq wants to develop in the coming period, especially the fifth and sixth round that include 19 blocks in the western side in the country.
He said that he discussed activating a number of projects in Iraq with HE the Minister of State for Energy Affairs, also President and CEO of QatarEnergy Saad bin Sherida al-Kaabi, calling on international companies to participate in these rounds, given the role these investments play in generating electricity and securing financial resources to Iraq.
QatarEnergy had agreed to own a 25% stake in the Gas Growth Integrated Project in Iraq (GGAT), which aims to develop natural gas resources in the country. The project is 30% owned by Basra Oil Company, with 45% owned by TotalEnergies, and QatarEnergy with 25%. This was achieved after wrapping up all contractual requirements and obtaining regulatory approvals.