Tokyo-based Arabian Oil Co.(AOC), an oil developer,
plans to launch a joint petroleum project in southern Iraq with a local enterprise, a leading Japanese daily reported on Wednesday.
In the framework of the joint project, the AOC will make improvements to oil-related facilities at oil-shipping ports facing the Arabian Gulf and repair run-down
oil fields in the southern part of Iraq, the Daily Yomiuri reported.
The companies are expected to reach a basic accord on the joint project soon, with specific details to be worked out when the president of the Iraq's state-run oil company visits Japan in late July, according to the daily.
It will mark the first time a Japanese oil developer has decided to fully take part in oil projects in Iraq since the end of the latest Gulf war. (menareport.com)
© 2004 Mena Report (www.menareport.com)
