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The Iraqi Ministry of Oil has revealed a new round of oil exploration and production licenses, aiming to attract international energy companies for 30 strategic projects across Iraq. This announcement is part of Iraq’s efforts to strengthen its energy sector and achieve sustainable development. Previously, international companies withdrew from Iraq’s oil and gas sector due to security, political, and technical challenges. However, the Iraqi government now seeks to stimulate this sector and re-attract investments by providing a suitable investment environment and encouraging strategic partnerships with major companies. The goal is to reduce imports that strain the national budget and produce the natural gas needed to operate power plants, boosting energy development and powering multiple governorates. Iraq stands out as one of the most important regions in the global oil and gas industry due to its strategic location and vast reserves of natural resources, offering distinct opportunities for investment and development in this vital sector.

International Firms Compete for 30 Energy Projects in Iraq

The Iraqi Ministry of Oil has revealed a new round of oil exploration and production licenses, aiming to attract international energy companies for 30 strategic projects across Iraq. This announcement is part of Iraq’s efforts to strengthen its energy sector and achieve sustainable development. Previously, international companies withdrew from Iraq’s oil and gas sector due to security, political, and technical challenges. However, the Iraqi government now seeks to stimulate this sector and re-attract investments by providing a suitable investment environment and encouraging strategic partnerships with major companies. The goal is to reduce imports that strain the national budget and produce the natural gas needed to operate power plants, boosting energy development and powering multiple governorates. Iraq stands out as one of the most important regions in the global oil and gas industry due to its strategic location and vast reserves of natural resources, offering distinct opportunities for investment and development in this vital sector.

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