Iraq's oil minister may visit Tokyo next week and discuss the prospect of Japanese investment as the Middle Eastern nation plans to increase petroleum production.
Hussain al-Shahristani has been invited to a Japan-Iraq investment seminar on July 10 organized by the trade ministry, said Kiyoshi Mori, director at the ministry's Middle East-Africa division.
The possible visit would coincide with Iraq's first international tender for oil and gas field development in more than three decades. The holder of the world's third-largest crude reserves is seeking to boost petroleum output by over 60 percent with the help of foreign partners and cash.
"We hope to discuss topics including oil and energy, and to brief Japanese companies on investment risks," Mori said. "Refiners, traders and auto-related companies are scheduled to attend."
Iraq has asked Nippon Oil Corp., Japan's biggest refiner, and Eni SpA to revise their bids to develop the Nassiriyah oil field, Abdul Mahdy al-Ameedi, deputy director general of the Petroleum Contracts and Licensing Directorate, said Thursday. Inpex Corp. and JGC Corp. are bidding together with Nippon Oil.
Inpex spokesman Kazuya Honda declined comment on whether the group would meet with the Iraqi oil minister but the Sankei newspaper said the minister's visit may increase the chances of the Japanese group winning the contract.