Iraq Business News: Petronor Launches Phase 2 of Iraq Energy City (IEC)

Iraq Business News All the latest business news from Iraq

Petronor Launches Phase 2 of Iraq Energy City (IEC) Nov 2nd 2012, 19:58 By John Lee. Petronor, the Dubai-based international services company, is launching the second phase of Iraq Energy City (IEC), fully equipped international community in Basra, catering to the oil and gas industry. Located 20 minutes from Basra International Airport, IEC offers accommodation and commercial real estate to international companies looking to enter the Iraq market, according to a report from AMEinfo. IEC issued its first leases in August 2011, and now has over 300 live-in residents and a daily workforce of more than 400 professionals. Supported by the Iraqi Ministry of Oil, Petronor was granted a lease for more than 170,000 square metres through a contract with South Oil Company to develop Iraq Energy City. (Sources: AMEinfo, Arabian Oil and Gas)

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