News ID: 175563
Published: 0720 GMT January 11, 2017

Iran, Iraq mull two oil deals

Iran, Iraq mull two oil deals

Tehran and Baghdad are in talks to conclude deals on developing two joint oilfields, announced a senior Iranian official.

Deputy Oil Minister in International Affairs and Trading Amir Hossein Zamani-Nia said that during his recent visit to neighboring Iraq, the two sides discussed avenues for establishing ties in the oil sector and cooperating in the development of joint oilfields, Fars News Agency reported.

The delegation, which was led by Zamani-Nia, included representatives of National Iranian Oil Company (NIOC), National Iranian Gas Company (NIGC), Iranian Oil Pipeline and Telecommunication Company (IOPTC).

One of the deals will pertain to the development of joint oilfields: Parviz and Khorramshahr, said Zamani-Nia.

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

Iran, he noted, is now ready to export gas to Iraq and Baghdad is also ready for to receive the fuel.

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

He said the L/C will open parallel with the Iraqi delegation's visit to Tehran in the near future.

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