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During the Iraqi-Saudi Coordination Council meeting, Iraq's Minister of Oil, Hayan Abdul-Ghani, announced that Aramco, the Saudi oil company, will develop the Akkas gas field in Iraq, with a production capacity of over 400 million cubic feet per day. Abdul-Ghani invited Saudi companies to invest in Iraq's Nibras petrochemical project and encouraged Saudi specialized companies to participate in developing oil and gas fields on the Iraq-Saudi border. The meeting also witnessed the establishment of the Saudi Iraqi Investment Company, with a $3 billion investment plan for Iraq, fully owned by the Saudi Public Investment Fund.

Aramco to develop gas field in Iraq

During the Iraqi-Saudi Coordination Council meeting, Iraq’s Minister of Oil, Hayan Abdul-Ghani, announced that Aramco, the Saudi oil company, will develop the Akkas gas field in Iraq, with a production capacity of over 400 million cubic feet per day. Abdul-Ghani invited Saudi companies to invest in Iraq’s Nibras petrochemical project and encouraged Saudi specialized companies to participate in developing oil and gas fields on the Iraq-Saudi border. The meeting also witnessed the establishment of the Saudi Iraqi Investment Company, with a $3 billion investment plan for Iraq, fully owned by the Saudi Public Investment Fund.

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