RIL to explore investment opportunities in Iraq

Posted By: Religare
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RIL to explore investment opportunities in Iraq
Reliance Industries Ltd (RIL) is planning to explore investment opportunities in the oil and gas fields of Iraq, Reliance Industries, Chairman, Mukesh Ambani told media.

"Petroleum minister Veerappa Moily has asked us to consider investing in Iraq," Ambani said on the sidelines of a programme in Mumbai.

The move comes exactly a year after the company divested its holding in two blocks in Kurdistan amid threats of blacklisting by the war-torn country, said Economic Times.

Ambani further added, "We are looking at the Nasiriya giant oilfield and three other oil and gas blocks in the Middle Furat region."

Earlier in March, Iraq had shortlisted Reliance Industries and six other global energy firms for developing the Nasiriya oilfield and building an associated 300,000 barrels per day refinery, said the media report.

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