Iraq is in talks with Saudi Basic Industries Corp (SABIC) and Saudi Aramco to invest in gas and petrochemical projects in the country, Asharq Al-Awsat newspaper reported, citing Hamid Al-Zawbai, Deputy Oil Minister for Gas Affairs.

 

Coordination is ongoing with SABIC on Nebras petrochemical complex, with investments ranging between $6 billion and $8 billion, Al-Zawbai said, revealing SABIC's interest in the project.

 

Other discussions are also being held with state-owned Saudi Aramco on development of exploratory gas fields, such as Akkas field in western Iraq. The field output is expected to reach 300 million cubic feet/daily.

The Iraqi official’s statements were made on the sidelines of a forum held by the Saudi Exports Development Authority and Saudi-Iraqi Trade Mission in Khobar.

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