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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Tomas who wrote (1163)6/30/1999 9:22:00 AM
From: Tomas   of 2742
 
Iraq Oil Minister In Sudan To Boost Energy Cooperation - Report

BAGHDAD (AP) June 30 --Iraq's oil minister is in Sudan for talks on boosting energy cooperation, the ruling Baath party newspaper al-Thawra reported Wednesday.

The paper said Amer Mohammed Rashid was on a mission to see what assistance this impoverished Arab country needs to exploit its huge and yet untapped oil wealth.

Rashid, in a press conference last week, said Iraq was ready to extend any help Sudan needed to set up an oil industry.

Iraqi engineers participated in the construction of the Sudanese oil terminal on the Red Sea. Iraqi oil companies, according to Rashid, were extending consultation to the Sudanese government on how to develop its oil resources.

Iraq helped Sudan build a refinery before the U.N. imposed sanctions on Baghdad to punish its 1990 invasion of Kuwait.

Iraqi engineers have become ingenious in making repairs with limited materials under sanctions and Rashid said Baghdad was passing "this accumulated experience to the brotherly people of Sudan."

Sudan has already inaugurated a 1,000-mile pipeline to carry about 150,000 barrels of oil per day from the isolated, semi-desert region of Heglig to the Red Sea for exports by the end of September. The amount is expected to be quickly increased to at least 250,000 b/d.

The project is part of $3 billion investment mainly by foreign firms.
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