April 24, 2016 / 2:25 PM / 3 years ago

Iraq signs strategic agreement with GE to boost power grid

BAGHDAD, April 24 (Reuters) - Iraq’s Oil Ministry said on Sunday it had signed a long-term “strategic framework agreement” with General Electric which comprised several projects to boost national power resources.

The ministry said in a statement one of the projects would generate more than 400 megawatts for oil installations by summer. Other projects aims to maintaining existing infrastructure and reducing gas flaring from oil fields to boost electricity production.

The ministry did not specify the agreement’s value or timeframe but said it was the result of two years of negotiations.

Reporting by Stephen Kalin; Editing by Alison Williams

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