Minister of Oil of the Republic of Iraq Oil Minister HE Hayan Abdel Ghani has confirmed late last month the State of Qatar's interest in participating in obtaining rights for oil and gas exploration in his country, announced at the Qatar Economic Forum.
His Excellency said 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 rounds that include 19 blocks in the Western side of the country.
His Excellency said that he discussed activating a number of projects in Iraq with HE Minister of State for Energy Affairs, President and CEO of QatarEnergy Eng. 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 for Iraq.
Qatar Energy had agreed to own a 25 percent stake in the Gas Growth Integrated Project in Iraq (GGAT), which aims to develop natural gas resources in the country.
The project's coalition is 30 percent owned by Basra Oil Company, with 45 percent owned by TotalEnergies, and QatarEnergy with 25 percent.
This was achieved after wrapping up all contractual requirements and obtaining regulatory approvals.