Iraq and Italy discuss oil cooperation (28/02/05)

An Iraqi delegation recently embarked on a visit to Italy, led by Iraqi Science and Technology Minister Rashad Mandan Omar. The delegation included representatives from the energy, telecom, and technology ministries.

Reporters quoted the minister as saying that the purpose of the visit was to encourage cooperation with Italian companies in oil matters.

Iraqi oil reserves are estimated at 12 billion barrels

The paper noted that Iraqi oil reserves are estimated at 12 billion barrels with a value of $25 billion and that Iraqi daily oil production will reach six million barrels by 2010.

The Italian government energy company INE signed an agreement with the Iraqi government for cooperation in oil drilling and professional training of Iraqi workers in oil production.

Source: Albawaba