Is Basra going to be the next Dubai?

Radical idea. I can sort of see why you would suggest it too. Be a while though, don't you think?!

Like "there might be a next Dubai before it's Basra" while?

I heard one of the Majors on the ground indicating that he thought the rest of the world would be investing in this new emergiing market in about 10 years time. He seemed quite impartial about the politics but is confident that over 60% of the people are now talking along these lines. I don't have alot of faith in most of the predictions I hear but it kind of makes sense to me, but I guess you can probably double the predicted time for turn around to 20 years, going by their track record so far.

Hi

In terms of investment opportunities, there might be nothing left to invest in once the international oil companies have divided it up amongst themselves!

Basra is interesting given the huge oil reserves around the city. Wood Mackenzie published a report and stated that the scale of Iraq’s remaining oil resources surpasses all other Middle East countries including Saudi Arabia. Added to this, they reported that production costs would be very low due to the country’s high-quality reservoirs. With only 27 out of the 80 discovered fields in the country producing oil, then the level of investment into Basra could be sustained for a long time.

But echoing the comments above, I would say it will be a long time before investors like ourselves get a chance to enter this market!

Noreen

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