British newspaper: Iraq's oil attract foreign companies despite security concerns

The Financial Times newspaper said under the title " " The chances of Iraq overcome security concerns among foreign investors , briefed by “Shafaq News " that the international companies overlook security concerns and increased violence recently in Iraq to set up branches and business in the oil-richcountry”.

The newspaper added , that the international companies tempted by vast oil wealth in Iraq and high growth rates in recent months begun working and expanding in agriculture and construction field as well as energy field, which is the main area of the Iraqi economy .

It pointed out that among the companies that started activities in Iraq are Exxon Mobil and three Lebanese banks ; Byblos Bank ,Mid Bank and Auda Bank.

The Iraqi Deputy Prime Minister for Energy , Hussain al-Shahristani has said , earlier , that big foreign oil companies tend to spend more than 25 billion dollars next year to increase production from the crude fields towards record levels , although Baghdad is struggling to control the violence extended of civil war in Syria .