UAE says ready to invest in Iraq’s oilfields

BAGHDAD / IraqiNews.com: The United Arab Emirates has expressed the readiness of its companies to invest in Iraqi oilfields, a statement released by the National Media Center said on Wednesday. “During his meeting with Oil Minister Hussein al-Shahrestani, the United Arab Emirates ambassador, Sheikh Abdullah Ibrahim al-Zowi, expressed the willingness of his country’s companies to compete with their international counterparts to develop and rehabilitate Iraq’s oil facilities,” the statement, which was received by IraqiNews.com news agency, quoted a media spokesperson for the Iraqi Ministry of Oil, Asem Jihad, as saying. Shahrestani said that his ministry welcomes any efforts by neighboring countries to foster bilateral relations, the statement added. SS (P)/SR 1