Iraq set to outline oil investment opportunities

OIL OUTLINE: A top official from Iraq's oil ministry will outline his country's plans at a summit next week. (Getty Images)

Investment opportunities in Iraq's oil sector are set to be announced at a top level summit of industry leaders in the UAE next week.

Assem Jihad, chief information officer at the Iraq Oil Ministry, will speak at the Next Generation Oil and Gas (NGOG) Summit next week in Fujairah, organisers said on Wednesday.

Assem is set to announce investment opportunities in Iraq for international oil companies in the oil extraction sector.

In addition, he will also speak on the establishment of joint companies between Iraq and foreign companies plus the Ministry's plan to raise the rates of production and export future.

More than 50 of the leading oil and gas companies including Adnoc, Saudi Aramco, Shell, BP as well as government officials from around the world will attend the event.

Organisers say its main goal is to unite the industry and tackle the current economic climate through technology and innovation.
 
"The global oil and gas sector is in the midst of unprecedented transformation. Several factors are driving fundamental change, unity amongst key industry leaders is vital," said a spokesperson from the Summit.

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