Bijan Zangeneh, Iranian minister of petroleum, has announced that Iran and Iraq have reached an agreement for joint development of the Naft Shahr and Khorramshahr joint oil fields
During a visit to the Energy Industries Engineering and Design (EIED), an affiliate to the Oil Industries’ Engineering and Construction (OIEC) the official said, “There are massive potentialities for expanding Iran-Iraq cooperation in oil, gas, refining and petrochemicals, and Iran is ready to offer itself capabilities to the Iraqi oil industry.”
He added that Thamer al-Ghadhban, Iraqi minister of oil, during a visit to EIED, learned about the capacities of the company, and it was decided that a joint partnership will be established between OIEC and a similar company in Iraq in order to develop joint capacity utilisation.
The official further stated that Iran had a lot of potentialities in the oil, gas, refining and petrochemicals sectors, adding, “Given the lack of development in the petrochemicals and gas industries in Iraq, there is a bright perspective for cooperation between the two countries.”
He further added that Iran’s gas dues from Iraq stood at a billion dollars already.
Iran is the only exporter of natural gas to neighbouring Iraq, both members of the Organisation of the Petroleum Exporting Countries (OPEC).
