Economy News – Baghdad
Exxon Mobil Corporation announced its desire to increase the volume of bilateral cooperation in the field of energy with Iraq, although it decided to exit Iraq by selling its share in the West Qurna 1 field.
The Ministry of Oil said in a press statement seen by “Economy News”, that Oil Minister Ihsan Abdul-Jabbar met today, Monday, the First Vice President of Exxon Mobil Corporation.
The Minister of Oil, Ihsan Abdul-Jabbar Ismail, confirmed that Iraq seeks to provide new investment opportunities in the gas and clean energy sectors .
Ismail added, “Iraq seeks to provide new investment opportunities in the gas and clean energy sectors, which are now considered one of the priorities of the ministry, expressing his hope that the current and future phase will witness more implementation of such projects that enhance opportunities for sustainable development for Iraq.”
Meanwhile, the First Vice President of ExxonMobil expressed his hope “to increase the volume of bilateral cooperation in many areas, including the energy and infrastructure sector.”
The press release issued by the Ministry of Oil did not mention any details about the sale of Exxon Mobil’s share, especially in light of a Chinese desire to buy the stake.
And the Minister of Oil, Ihsan Abdul-Jabbar, said in a press conference held on May 3, 2021, that the ministry was discussing the acquisition of Basra Oil on “Exxon’s share in West Qurna 1 and the leadership of the project, as happened with Majnoon.”
Iraq said last month that ExxonMobil wanted to sell 32.7 percent of the West Qurna 1 field, and that the Oil Ministry had begun discussions with US oil companies about a possible deal .