Economy of Resistance: Production and Job Creation
2017 22 October Fa

Iraq Looking for Iran’s Cooperation to Exploit Shared Oilfields

Iraqi Oil Minister Jabar al-Luaibi called for mutual cooperation with Iran on the exploitation of the two countries’ joint oilfields.

“We are looking for agreement with Iran on exploiting the oilfields jointly shared between the two countries,” the Iraqi oil minister said on Sunday, addressing a conference titled ‘Iraq; Energy in 2017’ in Baghdad.

He reiterated that Baghdad is holding serious talks with Tehran for utilizing the oilfields located along the two countries’ borders.

In relevant remarks in early January, a senior Iranian energy official said that Tehran and Baghdad were in talks to strike deals regarding development of two joint oilfields.

Deputy Petroleum Minister in International Affairs and Trading Amir Hossein Zamaninia said during a recent visit of an Iranian delegation to neighboring Iraq, the two sides discussed avenues for establishing oil ties and cooperation for development of joint oil fields.

The Iranian delegation, headed by Zamaninia, comprised representatives of the National Iranian Oil Company (NIOC), the National Iranian Gas Company (NIGC), Iranian Oil Pipeline and Telecommunication Company (IOPTC).

One of the deals will concern development of Parviz and Khorramshahr joint oilfields, said Zamaninia.

The other memorandum of understanding (MoU), he said, will be about cooperation in other oil-related areas like manufacture of items, gas export, and renovation of Iraqi refineries by Iranian private contractors.

“Iran is now ready to export gas to Iraq and Baghdad is also ready to receive the item,” the official said.

He said the gas export pipeline to Iraq from Iran is now filled with gas but the required LCs for sending the item to Iraq is not ready yet. “Gas flow to Iraq will begin as soon as financial issues are resolved.”

The energy official said the LC will open parallel with the Iraqi delegation’s visit to Tehran in the near future.

3 / 4 / 2017