Around 700 jobs in Basra's oil and gas industry are set to be created as a result of a deal with a leading US petroleum firm, the head of the Basra Investment Commission has announced.

Speaking to Aswat Al Iraq, Dr Hayder Fadhil explained: "The commission is within the final steps to study the company’s offer to invest $60 million (£36 million) in petrochemicals and oil services in the Basra province."

After training and development is complete, it is expected that around 700 Iraqi engineers and technicians will start work on the project, which will cover 120,000 square metre area in the oil-rich state.

Meanwhile, Iraq's deputy premier Rafie al-Issawi has this week held high-level talks with the French ambassador to the country to discuss opportunities for inward investment in areas such as oil and gas, services, industry and infrastructure.

In a separate meeting, Mr al-Issawi also held meetings with the Iraqi minister of finance to discuss investment opportunities in Ninewa and Diala.

Global Education and Training event for Oil and Gas: Getenergy for Iraq