Algerian Minister of State for Hydrocarbons, Mohamed Arkab, met with Iraqi Oil Minister, Bassem Mohammed Khudair Al-Abadi, on the sidelines of the Riyadh Energy Week. They discussed ways to strengthen cooperation between the two countries in the hydrocarbons sector, focusing on developing joint investments and expanding partnership between Algeria's Sonatrach and Iraqi oil companies.
The meeting explored opportunities for cooperation in the exploration and production of hydrocarbons and natural gas, as well as field development and petrochemical industries. The two ministers also examined the possibility of implementing joint projects across various stages of the hydrocarbons value chain. They emphasized the importance of exchanging expertise in updating exploration and production technologies.
Algeria and Iraq discussed potential collaboration in the natural gas sector, with Iraq seeking to benefit from Algeria's experience in collecting, processing, and valorizing associated gas. This cooperation aims to improve the exploitation of gas resources and enhance added value. The two countries also highlighted the need to continue coordination within OPEC.
Strengthening cooperation between Sonatrach and Iraqi oil companies was a key topic of discussion. The two ministers explored ways to develop joint investments and expand partnership in the hydrocarbons sector. This cooperation is expected to enhance the energy sector in both countries.
The meeting also focused on improving energy efficiency and reducing emissions. The two ministers discussed ways to enhance cooperation in the petrochemical sector, including the production of fertilizers. This cooperation aims to diversify the energy mix and promote sustainable development.
Algeria and Iraq reaffirmed their commitment to continuing coordination within OPEC and the OPEC+ alliance. They also emphasized the importance of dialogue between producing, exporting, and consuming countries to ensure stable energy markets. This coordination aims to promote cooperation and stability in the global energy market.
The discussions between the two ministers demonstrated a strong commitment to enhancing cooperation between Algeria and Iraq in the energy sector. The two countries are expected to continue their dialogue to explore new opportunities for collaboration and mutual benefit. This partnership is expected to have a positive impact on the energy sector in both countries.
Key points
- Algeria and Iraq discuss cooperation in hydrocarbons and petrochemicals.
- The two countries explore opportunities for joint investments and expanding partnership in the energy sector.
- Algeria shares expertise with Iraq in collecting, processing, and valorizing associated gas.
