Iraq signs a memorandum of understanding with a US company to support the energy sector
Economy News – Baghdad
Iraq on Monday signed a memorandum of understanding with U.S. company Honeywell to support the country’s energy sector.
“These agreements allow the company to explore opportunities for strategic cooperation in Iraq’s oil and gas fields, including stopping the burning of gas associated with production processes and providing development, automation, remote control and monitoring services,” Honewell CEO Ken West said in a press statement, followed by “Economy News.
“The memorandums of understanding were signed during a meeting hosted by the American Chamber of Commerce accompanied by members of his team with the participation of Prime Minister Mohammed Shiaa Al-Sudani, along with a group of high-level officials in the government and prominent companies in the private sector,” he added.
“Honeywell has made outstanding achievements in Iraq, and we look forward to taking these agreements into effect,” West said, stressing that “there is great potential for growth and cooperation to enhance the levels of reliability and sustainability of the energy sector for Iraqis across the country.”
He stressed that “these agreements come within the framework of (Honeywell)’s commitment to provide the best global solutions and expertise to help raise levels of efficiency and sustainability within the energy sector in the country. It also reflects the company’s efforts to align and strengthen its portfolio with three huge trends, including the energy transformation.”
For his part, the head of “Honeywell” company in Iraq, Mohammed Shabout, said that “these agreements reflect the firm commitment of (Honeywell) and the private and public sectors in Iraq to continue working on modernizing and developing the local industry.”
“The focus is increasing on the energy sector where we all have to invest the necessary technology and work to provide a better energy future for the entire region,” he noted.
Honeywell has been operating in Iraq since the 1970s, and has recently appointed Mohammed Shabout as the company’s regional president in Iraq.
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Added 2024/05/13 – 2:15 PM
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