Iraq, Iran discuss joint oilfield development
The West Qurna-2 oilfield in southern Iraq. Photo: Lukoil
Baghdad (IraqiNews.com) – The Iraqi Minister of Oil, Hayan Abdul-Ghani, discussed on Saturday the development of joint oilfields with the Iranian Minister of Petroleum, Javad Owji.
The two officials met in Algeria during their participation in the seventh summit of the Gas Exporting Countries Forum (GECF), according to the Iraqi News Agency (INA).
The two sides talked about possibilities for mutual collaboration between Iraq and Iran in the areas of infrastructure development, gas and oil production, and collaborative investment in their shared oil fields.
The Iraqi Ministry of Oil announced last December that Baghdad and Tehran had agreed to form a committee specializing in developing the joint oilfields.
The two sides agreed to form specialized committees, including a committee tasked with developing joint oil and gas fields in accordance with international norms to guarantee the rights of each party and a joint committee responsible for the utilization of natural gas, petrochemical industries, and renewable energy, in addition to a third committee tasked with rehabilitating and developing oil refineries.
Abdul-Ghani explained that cooperation will also take place in areas such as oil marketing, pipelines, and exploration.