Oman and Iraq Sign Memorandum of Understanding to Enhance Energy Collaboration

The Sultanate of Oman and the Republic of Iraq have today signed a Memorandum of Understanding (MoU) aimed at enhancing collaboration in the energy sector, including oil, gas, renewable energy, and green hydrogen. The agreement marks a significant step toward opening new investment opportunities and advancing mutual interests between the two countries.

The MoU focuses on promoting cooperation across multiple areas, including:

1. Enhancing joint efforts in oil and gas exploration and production.
2. Conducting studies for the establishment of oil storage facilities and other petroleum products.
3. Collaborating on the marketing of crude oil and petroleum derivatives.
4. Exchanging expertise and information in energy-related fields.
5. Sharing knowledge in oil and gas exploration and development, with emphasis on private sector involvement.
6. Providing training opportunities for employees in seismic surveying, exploration, and evaluation.
7. Facilitating experience exchange in renewable energy sectors, such as wind and solar power.
8. Conducting joint scientific research and organizing workshops.
9. Developing investment plans for green hydrogen, aviation fuel, sustainable fuels, and energy storage solutions.
10. Organizing petroleum exhibitions and conferences.

This partnership aims to diversify areas of cooperation, promote sustainable energy initiatives, and build capacities through joint training and knowledge transfer. It also seeks to establish strategic partnerships, create innovative investment solutions, and enhance regional and global influence through collaborative activities.

Both nations reaffirm their commitment to sustainable development and advancing energy security, marking a new chapter in bilateral relations that will foster economic growth and technological advancement.