Dr Rowsch N Shaways addressed the delegation, “On behalf of the Republic of Iraq, myself and the members of the Iraqi delegation, I extend to you warm greetings and would like to indicate how pleased I am to participate in this important economic event. To continue our earlier efforts exerted in economic meetings and conferences, held in Baghdad and in capitals of other countries to create new opportunities for joint economic cooperation and investment in our country. In particularly the fields of oil, gas and minerals, which will eventually contribute to promote economic growth and diversification in Iraq.”
He furthermore stated, “We continue our efforts towards expanding, diversifying and modernising the foundations of our national economy, developing capacities of our human resources, optimising the use of country's resources, and restoring Iraq's international economic ties on the basis of cooperation and mutual interests, thus benefiting from financial and technical benefits that such ties can provide.”
The keynote included an outline of the key elements in Iraq’s oil and gas strategy, an important component detailed was to achieve a significant increase in the oil and gas reserves and production capacities to meet domestic and international growing needs. A boost in gas investment, an enhancement of oil tanker fleets, promotion of the awareness of environment conservation and developing the capacity and efficiency of the oil sector personnel were key policies that were intended to be implemented. He moreover highlighted that Iraq’s oil production capacity reached 2.7 million barrels per day, with an export capacity of 2.2 million barrels per day, the highest since 2003.
To conclude the keynote session, H.E. Dr Rowsch N Shaways stated he “wished to indicate that we are resolute to remove all administrative, legal, legislative and political constraints and obstacles that render companies to be hesitant to work in Iraq, thus hinder launching local and foreign investment initiatives in the oil and biogas sectors.”
The second day of Conference, 19 June 2012, will focus on the following key discussions;