26 January 2020

Iraqi governorates and ministries intend to prepare a list of projects to be undertaken by Chinese companies as part of a new oil-for-projects agreement signed between Baghdad and Beijing in 2019, a local news network has reported.

The projects are to be presented to the Planning Ministry which is supervising the agreement providing for Iraq to supply China with 100,000 barrels per day (bpd) of oil in exchange for execution of projects in infrastructure and other sectors, Aliqtisad News said.

Planning Minister Nouri Al-Dulaimi this week sent a letter to government offices and Iraq's governorates to asking them to "submit a list of projects as soon as possible" to be included in the agreement with China, it said.

"The Minister only projects with strategic priority should be submitted and that the list must include all details of the project.

Iraq, which controls the world's fifth largest proven oil deposits, has been locked in a drive to rebuild war-damaged facilities, with officials estimating costs at nearly $100 billion.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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