Yahya Ale-Eshagh: Iran is ready to Invest in Iraq’s Oil Fields

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Written By Farid Shojaei

Yahya Ale-Eshagh, President of Iran Chamber of Commerce and Industry, announced that his country with cooperation of foreign companies is ready to invest in Iraq’s joint oil fields with Iran.

“We have received calls from foreigner companies regarding investing in Iraq and Iran joint oil fields. Currently our active companies in petrochemical industries, which belonged to private sector, have great technical and technological capabilities. They can help Iraq to expand the revenue from its joint oil fields with our country.” Yahya Ale-Eshagh said during a meeting with Iraqi oil minister in Tehran.

He also referred to cultural and historical commonalities between Iran and Iraq but criticized the poor cooperations between two countries. “Iraqi companies and even Iraqi government are not aware about the full potential of Iranian companies in oil and gas industries. On the other hand our companies don’t know about the current opportunities in Iraq’s oil industries. The chamber of commerce in Iraq and Iran should work hard to address these issues.”

“I have received many requests from companies in South Korea, Brazil, India, Malaysia and France about investing in Iraq’s oil industries.  By increasing the bilateral cooperations between Iran and Iraq, our neighbor can use all of the opportunities and maximize its revenue from joint oil fields.” Yahya Ale-Eshagh concluded.