Monday Jun 04, 201203:13 PM GMT
Iran, Iraq agree to expand cooperation in oil industries: Official
Based on current studies, there are 23 joint hydrocarbon fields between Iran and Iraq.
Based on current studies, there are 23 joint hydrocarbon fields between Iran and Iraq.
Mon Jun 4, 2012 3:11PM
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A senior Iranian official says Iran and Iraq have agreed to expand cooperation in the upstream, midstream and downstream sectors of the oil industry.


Managing Director of the National Iranian Oil Refining and Distribution Company (NIORDC) Ali Reza Zeighami said Monday that Iran and Iraq had reached an agreement to expand cooperation in developing joint fields, the refining section, and the exports of oil and gas products.

According to the agreement between Iranian and Iraqi officials, Iran will export USD 1.7-1.8 billion of petroleum and Associated Petroleum Gas (APG) products to Iraq per year, Zeighami said.

He added that petroleum products such as oil, gas, and kerosene would be exported to Iraq by sea via the Mahshahr and Bandar Abbas ports and through three land routes.

Zeighami said Iran had also agreed to cooperate in the construction of a refinery in Iraq and to share its technological knowhow in this field with its eastern neighbor.

Earlier on Monday, the Iranian Oil Minister Rostam Qasemi, who has recently returned from a three-day official visit to Iraq, expressed satisfaction with the achievements of his trip and the agreements reached by the two neighboring states on energy cooperation.

Qasemi said during the visit he had held fruitful dialogue with his Iraqi counterpart and Prime Minister Maliki on the export of Iranian oil products, building a gas pipeline from Iran to Iraq, providing technical training for Iraqi technicians in the field of gas and oil, as well as expanding bilateral economic ties in the energy sphere.

Based on current studies, there are 23 joint hydrocarbon fields between Iran and Iraq which are divided into exploration, developmental and production types.

HMV/HGH/AZ
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