SULAIMANI, Kurdistan Region — The Iraqi Council of Ministers has announced the signing of 18 memoranda of understanding between the Iraqi government and various US companies within the sectors of oil, gas, electricity, and finance.
An official statement from the Iraqi Prime Minister’s office reports that the agreements were signed on Wednesday evening, with Iraqi Prime Minister Mohammed Shia al-Sudani in attendance. Four were signed with US government agencies, and 14 were inked with private sector companies.
Among the agreements, the Iraqi Ministry of Electricity has entered into an agreement with General Electric aimed at enhancing the energy sector in Iraq. Additionally, the Iraqi Ministry of Oil has signed agreements aimed at the development of oil and gas fields.
Memoranda of understanding have also been signed with KBR for the development of oil fields, as well as for the treatment of natural gas to convert it into liquid petroleum gas (LPG) and associated petroleum gas (APG). Additionally, the Central Bank of Iraq has entered into an agreement with the US International Development Finance Corporation (DFC).
The MoUs are integral components of the agreements reached between the Iraqi government and private companies, particularly those from the United States, during the visit of the Prime Minister and his accompanying delegation to the US.
During the ceremony, Prime Minister Sudani highlighted Iraq’s openness to international corporations, urging them to participate in the country’s economic revitalization and infrastructure projects, as stated by the Prime Minister’s office.
He also highlighted the comprehensive reforms undertaken by the government, including significant strides in financial, banking, and administrative domains, accomplished within a year and a half.
