Oil Minister Jabbar Ali al-Allaibi on Friday announced the conclusion of agreements between Iraq and Saudi Arabia, including the establishment of projects in the sectors of oil and gas, petrochemicals and manufacturing industries.
The Minister of Oil said in a statement on the results of his visit to Saudi Arabia that it was decided to form joint committees to study and evaluate the establishment of projects in the sectors of gas and petrochemicals and manufacturing industries and the processing of oil projects, investment and partnership and cooperation and training and technology and the allocation of scholarships, as well as to confirm the convergence of views between the two countries and emphasis on Commitment to the decisions of the Organization of Petroleum Exporting Countries and work together to restore balance to world markets and to support oil prices.
For his part, the Saudi Minister of Petroleum, Khalid Al-Falih, stressed on harnessing all the possibilities of expertise and technology possessed by the Saudi companies for the Iraqi side as well as providing opportunities for training, access and exchange of experiences and activating investment opportunities and joint projects. He praised the role of Iraq in the OPEC Organization and work to restore the balance of the world oil market and support oil prices. .
Al-Falih predicted that the bilateral relations will witness a qualitative leap in the coming period, which will contribute to fruitful results and enhance relations between the two brothers.
For his part, ministry spokesman Assem Jihad said that Oil Minister Jabbar al-Luaibi met with the foreign and trade ministers of the Kingdom and agreed on the need to activate and expand areas of joint cooperation in all sectors, especially oil, economic, industrial and commercial. .
The minister also visited the Royal Commission for Jubail and Yanbu and heard from the director of the authority to explain the strategic plans and employ modern means in the planning and implementation of the projects for the future and the future.