Sunday, 1 January 2012
Business is booming
Op-ed pieces in the New York Times and other US newspapers about the possible descent of Iraq into civil war may have less to do with concern for Iraqis - or even the US military mission - and more to do with the developing opportunities for US business interests, as these two stories underline:
firm wins $640 million contract to drill 60 wells in southern Iraqi oil field U.S.
USA reports (December 30th): U.S. investment and other business in Iraq has quadrupled this year despite concerns over violence and sectarian rivalry as the last American troops withdrew from . Iraq companies reached deals worth $8.1 billion through Dec. 1, up from $2 billion last year, according to Dunia Frontier Consultants, which studies emerging markets. U.S.
Azzaman reports (December 24th): The Iraqi government has approved a contract under which a
U.S. firm is to drill 60 new wells at al-Zubair oil field in the southern . Province of Basra
The deal is not part of the technical service contract Iraq’s South Oil Company has struck with Eni, Occidental Petroleum and KOGAS to develop Zubair, one of the world’s largest oil fields.