Reports in the Japanese media indicate Japan's Arabian Oil Co is mulling over the idea of launching a JV in southern Iraq to repair and rehabilitate damaged oil production and port facilities.
According to the Yomiuri Shimbun, "Arabian Oil, part of oil developer and refiner group AOC Holdings Inc, and Iraqi companies will shortly reach a basic accord on the project. The paper said details would be worked out when the president of Iraq's state-run oil company visits Japan in July."
"Leading Japanese steel makers and construction firms are expected to take part in the project," added the paper.
No comment from Arabian Oil were available at press time.