In the name of God, the Merciful, the Compassionate
1- Honorable attendees, we welcome you to Baghdad, the incubator of development and progress, the community of brothers, the home of security and stability, and the field of promising opportunities and creativity.
2. We welcome and support the organizers and those responsible for holding the Baghdad International Energy Forum in your country, Iraq, which in a few years has transformed into a vast industrial and developmental field in which new fields of energy production are flourishing and the pace of reconstruction and development is accelerating.
3- We have high hopes and expectations for the convening of such forums and the opportunity they provide for dialogue, exchange of vision, review of facts and digital developments, and the preparation of studies and recommendations of great importance.
4- In light of Iraq's important relationship with the energy and crude oil markets, we must not forget that OPEC was established in Baghdad in 1960, and that Iraq is a key member, in addition to the status of Iraq's proven reserves, which amount to 150 billion barrels according to the best estimates, to be among the highest in the world.
5- This means that Iraqi oil will continue to supply global markets for more than 120 years at the very least, a feature that reinforces Iraq's commitment to maintaining a fair balance between the rights of producers and consumers, despite the fact that our export share is disproportionate to the size of reserves, production capacity, and population.
6- We hope that our brothers and friends will understand more deeply this Iraqi economic and developmental necessity, and reconsider the size of Iraq's share, according to the indicators of its real oil capacity.
7- In view of this vision, we affirm our openness to receive oil companies wishing to invest in oil and gas, and there will be preferential procedures for major companies in accordance with the supreme interests of Iraq.
8- Since the beginning of our government's work, the energy file has been present, especially in the goal of expanding the utilization of oil wealth and raising the level of added value from its products, an issue that is linked to all aspects of development and ambitious plans.
9- We had to work on multiple axes in dealing with the oil wealth. First, we must create a large and sufficient infrastructure for the production of oil derivatives, which means increasing refining capacities.
10. Through expansions in the capacities of existing refineries, the opening of the giant Karbala refinery, and the operation and development of all refining units in the rest of the Iraqi refineries.
11- Iraq also announced (6) investment opportunities in the refinery sector to promote partnership with the private sector.
12- We have set a strategic goal of shifting Iraq's oil exports to high-value derivatives, instead of crude oil, by 2030, with no less than 40 percent of our total production, and we have already started oil projects on this basis.
13. At the same time, Iraq is working to diversify the export outlets for crude oil and oil derivatives, based on the fact that its oil production is increasing and the need to face the security challenges in the region. In this regard, we held talks a few weeks ago to reactivate the Iraqi-Syrian export line to be one of the options to diversify Iraq's export outlets, while providing flexibility in crude oil transportation capabilities, and we have already started the construction of the 685-kilometer-long Basra-Haditha pipeline, which is located in this direction.
14- We also took into account that the Strategic Development Road project should be one of the pillars of the expansion in the field of energy infrastructure, and that it should constitute an additional corridor with lines for the transportation of gas and crude oil from the Gulf region towards the north to the consumer markets in Turkey and Europe.
15- In addition to all this, the gas sector is a strategic economic option that enhances Iraq's energy security and provides an opportunity to build infrastructure to support the electricity sector.
16- The world is rapidly shifting towards clean and renewable energies and the goal of protecting the environment and reducing carbon emissions, and Iraq cannot be satisfied with the role of a traditional oil exporter, but we must communicate with all applications that protect the environment, and be able to take control of the requirements for confronting climate change.
17- This was the most important step towards ending the flaring of associated gas and fully utilizing the 1,300 million standard cubic feet of gas produced in conjunction with our oil production, and we have exceeded 70% of gas reuse, with the goal of completely eliminating flaring within two years.
18- For the first time, the clean and renewable energy sector is witnessing actual and operational steps on its way to rolling out its crop, through solar power plants, as well as waste recycling and energy extraction projects.
19- On this basis, we proposed integrated projects in all oil and gas investments, and that the project in the oil or gas field should include the production of electric power, added capacities for refining and refining, and gas production, in addition to chemical industries based on the produced crude.
20- We find in this International Energy Forum an opportunity to affirm our support and adoption of employing digital concepts in energy management, adopting all possibilities of modern technology, artificial intelligence, and automation capabilities wherever possible, recognizing the importance of making estimates for the future now.
21- We also emphasize the social dimension of the responsibility of oil companies towards the work environment and local communities, and the scope for them to support stability, to be an effective partner in development in addition to their supply and contribution to the energy market.
22- We welcome you, we support you, and we welcome all the recommendations and visions that you will come up with that will benefit everyone.
May God's peace, mercy and blessings be upon you
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