Iraqi Prime Minister Mohammed S. Al-Sudani of Iraq led a critical gathering on Wednesday to deliberate on the Federal Oil and Gas Bill.
According to a statement by his media office, Al-Sudani presided over the high-profile session, which witnessed the participation of the Minister of Foreign Affairs, the Minister of Oil, the Minister of Industry and Minerals, the Advisor to the Kurdistan Regional Government Minister of Natural Resources, and a team of technical and legal experts.
The session revolved around an assessment of the latest drafts of the Federal Oil and Gas Bill.
The meeting also served as a platform to gauge the advancements achieved by dedicated technical and legal committees, setting the stage for meticulous fine-tuning.
Central to the discussions was the concerted effort to refine the Federal Oil and Gas Bill, culminating in its endorsement by the Council of Ministers.
Prime Minister Al-Sudani emphatically reiterated the strategic significance of the Federal Oil and Gas Bill for Iraq’s cohesive development. The legislation has languished for years and is now deemed an imperative instrument to capitalize on the nation’s abundant natural resources across diverse sectors.
The Prime Minister emphasized the bill’s potential to address challenges, particularly in provinces where untapped wealth has hindered comprehensive progress.
Prime Minister Al-Sudani highlighted the legislation’s role in the ongoing economic reform agenda, aiming to steer the nation towards a robust and diversified economy.
The Iraqi Prime Minister directed the establishment of a ministerial committee tasked with facilitating technical dialogues between the Federal Ministry of Oil and the Kurdistan Regional Government’s Ministry of Natural Resources.