Iraq's Ministry of Oil confirmed today, Thursday, that "discussions with the Saudi side regarding energy investment have not reached a final agreement." The ministry stated in a statement that "the talks between the Ministry of Oil and the Saudi Ministry of Energy included an invitation for Saudi companies to invest in the oil and gas sector, including Aramco's investment and participation in developing the Akkas oil field in Anbar province."
The ministry expressed hope "to reach an agreement that enhances the prospects of bilateral cooperation between the two countries, serving mutual interests," pointing out that "Aramco is studying the mechanisms of cooperation in this framework."
The ministry will announce the terms and mechanisms of the agreement if an agreement is reached.
On Thursday, the Iraqi-Saudi Coordinating Council held its sessions in Jeddah, Saudi Arabia, where the council signed several memoranda of understanding.
