Iranian firms interested investing in Iraq's oil industry

Business Materials 24 December 2012 12:40 (UTC +04:00)

Azerbaijan, Baku, Dec. 24/ Trend G.Mehdi/

Iranian firms are technologically and technically capable and interested in investing in Iraq's oil sector, ILNA quoted Tehran Chamber of Commerce Chairman Yahya Al-e Es'haq as saying on Sunday.

"Brazil's Petrobras and some other companies from South Korea and India have directly negotiated with me in order to launch joint ventures with Iranian companies to invest in Iraq's oil projects," Al-e Es'haq added.

Moreover, a number of Malaysian and French companies have expressed their interest to take part in Iraq's oil sector projects, he noted.

Iraq has set an ambitious target of pumping 12m b/d by 2017, but officials and industry executives believe it would achieve only a fraction of that level.