» Home » Business News Iraq Directory Services Plans Subscription Contact us Site Map Help About Iraq Arabian Oil eyes reconstruction of Iraqi oil facilities TOKYO, Jun 02, 2004 (Kyodo via COMTEX) -- Arabian Oil Co., Japan's largest oil supplier, plans to launch a project to rebuild oil facilities in southern Iraq with a state-run Iraqi oil company, Arabian Oil officials said Wednesday. Arabian Oil is in talks with visiting officials of Iraq's South Oil Co. on the plan to rebuild damaged and obsolete oil producing and shipping facilities on the Persian Gulf, they said. Initially, Arabian Oil will accept trainees from Iraq and begin giving them technological expertise. Arabian Oil aims to use the oil reconstruction project as a stepping stone toward acquiring an interest in a future oil development project in Iraq after the country's political situation stabilizes. If the reconstruction project is realized, Arabian Oil will be the first Japanese company fully engaged in any oil development project in Iraq since the end of the 1991 Gulf War. According to the Arabian Oil officials, a consortium is expected to be formed with Japanese businesses in the steel, construction and civil engineering sectors as the reconstruction work would likely involve crude oil pipelines, storage tanks and oil-shipping ports. Facilities in Rumaila, one of Iraq's largest oil fields and located near the southern border with Kuwait, was severely damaged during last year's Iraq war and is expected to be among the priority targets of the reconstruction project. "We would like to finalize specific locations and the time frame on condition that security is guaranteed in the country," one Arabian Oil official said. Source : http://www.zwire.com © 2002-2004 Iraq Directory - All Rights Reserved