Basra expects big participation at oil fair

Iraq is aiming to promote its oil and natural gas reserves to the world with November's Basra International Oil and Natural Gas Conference and Exhibition.

The fair, which will be held between Nov. 25 and Nov. 28, aims to enhance the war-torn country's economic development, while focusing on Iraq's contribution to the future world energy supply.

"This new fair is notable because it is the first oil and gas fair in the region," said Nazar Rabeea Heamah Jaberi, the governor of Basra, speaking at a press conference in Istanbul on Thursday.

Noting that Basra's local government supports investments in the region, Jaberi said Iraq is "open to all kinds of investments." There are also sports and residential complex projects underway, as well as specialized hospitals, he said.

"It is expected that Iraq's global role will be more influential as demand for oil and natural gas increases," said Can Derin, the chief executive officer of Expotim, one of the exhibition's organizers.

"We are organizing this fair to encourage the development of Iraq's oil and natural gas sector and allow international companies to promote them in the market," said Derin. "The main reason we chose Basra was because the region is stable and secure. Also, five of the country's 10 oil basins are in the province."

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