Iraq, UAE oil companies sign agreements

An official at the UAE’s Crescent Petroleum Company announced that the company has finalized a 10-month study on oil exploration in Iraq jointly with Iraqi officials, Iraq Directory reported Monday. He said that the Iraqi area to be included in the study is between the southern city of Basra and the borders of Kuwait. He added that the firm has also conducted studies on other Iraqi regions and has drawn up a development plan for the giant southern Ratawi field. The UAE Crescent Petroleum and the Iraqi Oil Exploration Company have signed several technical cooperation agreements since 2005 to encourage foreign companies to invest and develop Iraq’s oil sector. (Source: MENAFN.com)