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German Siemens to modernize Iraq's energy

German Siemens to modernize Iraq's energy
Siemens will advise on Iraq's energy development and optimization of country's power generation and grid infrastructure

Germany Siemens signed a memorandum of understanding (MoU) with Iraqi government to modernize energy infrastructure and the oil and gas sector of the country, Siemens announced late on Thursday.

Siemens said that it aims to strengthen collaboration with the Ministry of Energy as well as the Ministry of Oil and Gas.

The MoU was signed in the presence of Haider al Abadi, prime minister of Iraq, Qassim al Fahdawi, minister of electricity and Siegfried Russwurm, board member of Siemens in Iraqi capital Baghdad.

Siemens will advise the Iraqi government on the development and optimization of the country's power generation and grid infrastructure including recommendations for its power generation mix.

"With this important agreement we intensify the long lasting partnership between Siemens and Iraq," Russwurm said

"With our broad portfolio and comprehensive expertise in power generation, transmission as well as in the oil and gas sector, we will assist and support the Iraqi government to develop a sustainable and modern electricity system to ensure the country's economic and social development," he added.

Siemens is in the global energy market for around 165 years and is active in more than 200 countries with more than 345,000 employees.

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