Iraq invites foreign firms to develop western gas fields, oil minister says

BAGHDAD, Iraq — Iraqi Oil Minister Hayyan Abdulgani called on foreign companies to participate in the development of the country's western gas fields at the Global Oil Companies Forum in Baghdad. Speaking at a meeting held at the ministry on Sunday, Abdulgani said companies operating in Iraq are treated as partners rather than contractors, with contract terms implemented jointly. The minister said the government has set a strategy focused on raising production and improving the investment environment, recalling the Prime Minister's instruction to review high-value tenders. He added that quality and integrated standards will be prioritized given current global market conditions. Abdulgani also said that, following recent tensions in the Strait of Hormuz, companies will be able to collect their receivables through the Iraqi Oil Marketing Company. The meeting aimed to provide investors with clarity on field development and payment mechanisms.