Iran, Iraq ink MoU to boost oil cooperation

The two sides agreed to establish a joint committee to follow up on the taken decisions and agreements

The two petroleum ministers also reached an agreement on exporting Kirkuk oil through a pipeline, which passes from Iran’s territory.
The two petroleum ministers also reached an agreement on exporting Kirkuk oil through a pipeline, which passes from Iran’s territory.

Minister of Petroleum Bijan Zangeneh and his Iraqi counterpart Jabbar al-Luaibi signed Memorandum of Understanding (MoU) on cooperation in different fields of oil and gas in Baghdad this week at the end of their negotiation.

Some of the points covered in the MoU include the development of oil and gas fields in common borders, exporting engineering and technical services, exporting goods and cooperation in the field of petroleum and derivatives.

Rendering help to rebuild infrastructures of Iraq oil and gas refineries by Iran as well as granting university scholarships to Iraqi students to study in upstream oil and gas courses were also mentioned in the MoU.

The two petroleum ministers also reached an agreement on exporting Kirkuk oil through a pipeline, which passes from Iran’s territory and it is due that an international consultant to be introduced for its technical and economic justification.

The two sides agreed to establish a joint committee to follow up on the taken decisions and agreements.

Zangeneh, heading a high-ranking delegation, arrived in Baghdad this week morning and held talks with Iraqi oil and energy ministers concerning bilateral cooperation.

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