Baghdad: The Parliamentary Energy Committee has expressed optimism about the recent Iraqi-American discussions on oil, stating that these talks will bring significant benefits and rejuvenate Iraq’s oil industry.

According to National Iraqi News Agency, Kawa Abdul Qadir Hassan, a member of the Parliamentary Electricity and Energy Committee, emphasized on Tuesday the positive outcomes expected from the recent engagements with American oil companies. He noted that Iraqi Prime Minister Ali al-Zubaidi’s visit to Washington played a crucial role in these developments. Hassan highlighted that the agreements reached with U.S. oil firms are anticipated to bring a substantial leap forward for Iraq’s oil sector. The collaboration is expected to facilitate the transfer of international expertise to Iraq and foster the development of oil fields across the nation. Furthermore, he advocated for the employment of Iraqi workers in these oil exploration projects to maximize the benefits of the talks.

Prime Minister Ali al-Zubaidi conducted comprehensive discussions in Washington with leading American oil corporations. During his visit, 48 contracts and memoranda of understanding were signed in the energy sector, amounting to $60 billion. These agreements aim to enhance oil field development, boost production capacities, and establish strategic projects for sustainable investment in Iraq’s oil industry.