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Iraq to create preferential terms for Russian companies

"We seek to develop cooperation in all spheres, including investments and the creation preferential terms for Russian companies operating in the country," the Iraqi prime minister said

Iraqi Prime Minister Haider al-Abadi EPA/KIRILL KUDRYAVTSEV / POOL

Iraqi Prime Minister Haider al-Abadi

© EPA/KIRILL KUDRYAVTSEV / POOL

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Russia’s trade turnover with Iraq grows 10-fold over two years — Putin

MOSCOW, May 21 /TASS/. Iraq will contribute to creating preferential terms for Russian companies operating in in its territory, visiting Iraqi Prime Minister Haider al-Abadi said at a meeting with Russian President Vladimir Putin on Thursday.

"We seek to develop cooperation in all spheres, including investments and the creation preferential terms for Russian companies operating in the country," the Iraqi prime minister said.

Major Russian energy companies are successfully working in Iraq. They include LUKOIL, which is developing the Western Qurna-2 Field in Basra province. The investments amounted to 5.3 billion US dollars. The daily production output had reached 400,000 barrels of oil by the start of 2015 /about 12 % of the total amount of hydrocarbons produced in Iraq/. .

Another Russian oil major - Gazprom Neft - is developing the Badra Oil Field in Wasit Province of Iraq under a $ 2.7 billion-dollar contract. Gazprom Neft is also developing several oil fields in the Kurdish Autonomous Region of Iraq.

Russian companies Technopromexport, Inter RAO UES and Silovye Machiny are studying a possibility of renewing operations in the Iraqi market. These companies have already implemented a number of other major projects such as the restoration of the Hartha thermal power station near Basra; delivery of components for the Dibis thermal power plant in Kirkuk and the mounting of equipment for the Al-Adaim Hydro Power Station in Diyala province.

Iraqi Prime Minister Haider al-Abadi hopes that his talks with Russian President Vladimir Putin will contribute to strengthening cooperation in fighting terrorism in Iraq and elsewhere in the Middle East.

"We hope that today’s meeting will contribute to strengthening /anti-terror/ cooperation not only in Iraq but in the whole region," Haider al-Abadi told the Russian president at the bilateral meeting.

Al-Abadi told Putin about his people’s struggle against the "Islamic State." The struggle is under way in several directions. Nevertheless, the "Islamic State" militants have made significant military gains at the moment. The Iraqi prime minister said that representatives of all political forces and social strata in Iraq were fighting against ISIS.

‘We are trying to involve all Iraqis in this struggle so as to be able to liberate the country through common efforts," al-Abadi said.

Russia has recently marked the jubilee anniversary of Victory over fascism, Al-Abadi said hoping that Iraq would be able to mark its own victory over terrorism soon.

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