The Benefits of Cooperation

Plans are in the pipeline to more than double Iraqi oil production, the chairman of Iraq's Governing Council said while in Japan. He also called for more Japanese assistance in rebuilding his country, particularly in strengthening its ability to produce oil

Seyyid Muhammed Bahr ul-Uloom, flanked by other members of the council, gave a news conference in Tokyo prior to meetings with Prime Minister Junichiro Koizumi and other Cabinet officials

The Iraqis said Baghdad plans to expand oil exports from the current 1.5 million barrels per day to 2 million bpd, rising eventually to 5 million bpd. Bahr ul-Uloom stressed that Iraq needs to rebuild its oil infrastructure

For Japan, Iraq is abundant in natural resources, with oil reserves ranking second in the world. In that sense, Iraq has great potential,'' Bahr ul-Uloom told the Japan National Press Club in a speech. With Japan's continued push for supporting Iraq, naturally, in the future many chances can be expected for Japanese businesses. But officials in Tokyo said the poor security situation in Iraq makes it unlikely much will happen in energy development in the near future