News ID: 208728
Published: 0326 GMT January 24, 2018

Iran, Iraq agree to jointly develop two small oilfields

Iran, Iraq agree to jointly develop two small oilfields

Iran and Iraq have signed a contract to jointly develop two small oilfields in Khorramshahr, southwest of Iran, said deputy head of National Iranian Oil Company.

According to Fars News Agency, Gholamreza Manouchehri further said, "We are cooperating with Iraq in some oilfields and an agreement on jointly developing two small oilfields in Khorramshahr was signed.

"A tender for developing Azadegan Oilfield is in progress while an agreement has been reached with Persia Oil and Gas Company on Yaran Oilfield and the deal will be signed shortly. Also talks are underway with Sinopec on developing Yadavaran Oilfield."

Fortunately, talks conducted by NIOC on developing oil and gas fields are bearing fruit and hopefully the outcome will be evident in the year from March 21, 2018, the official added.

He further said that Total is conducting operations in the South Pars Phase 11 project while NIOC is continuing negotiations with Denmark's Maersk to develop the oil layer of the supergiant gas field.

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