BAGHDAD, Jan. 28 (Xinhua) -- Iraq's western province of Anbar boasts seven of the world's richest oil blocks, an Iraqi newspaper reported Monday.
"The focus of international oil companies will be on Anbar province as it has seven of the richest oil blocks in the world," Mohammed Abu al-Heil, a member of the parliamentary oil and energy committee, was quoted by the independent al-Mashriq newspaper, as saying.
"The shaky security situation in Baghdad and Anbar in recent years has pushed foreign companies away from investing in this area," the parliament member added.
Al-Heil expects the foreign companies to invest in Anbar following the tangible improvement in the security situation in western Iraq.
Iraq's economy relies heavily on crude oil exports, which account for more than 90 percent of the country's revenues.
In 2017, it was announced that Iraq's proven oil reserves increased to 153 billion barrels from a previously estimated 143.1 billion ones.
