TEHRAN Iran and Iraq signed several memoranda of comprehending to broaden cooperation in the oil and energy sectors, as the 2 sides explored brand-new avenues for joint advancement and technical collaboration.According to a declaration by Iraqs Oil Ministry, Iranian Oil Minister Mohsen Paknejad and his Iraqi equivalent Hayan Abdulghani fulfilled in Baghdad to go over bilateral energy ties.
The two officials signed arrangements aimed at enhancing cooperation throughout different segments of the oil and gas industry, including experience-sharing, technical cooperation, and joint job development.Abdulghani highlighted Iraqs guaranteeing gas financial investment jobs and the countrys objective of accomplishing self-sufficiency in petroleum item production.
He expressed Iraqs preparedness to deepen technical and investment ties with Iran.Paknejad, in turn, praised Iraqs warm reception and emphasized the cultural and historic connections between the two nations.
He worried the importance of continuing cooperation, especially in the energy domain.In a separate declaration from Iran's Oil Ministry, Paknejad elaborated on the signed MoUs, noting they include contracts on overseas exploration and the transfer of associated gas from joint oilfields in Iraq to Iran, where it will be utilized as feedstock for gas liquids (NGL) plants.
The effort is to be carried out with private sector participation.He stated some of the contracts consist of non-disclosure arrangements and preliminary functional dedications, moving beyond basic understandings toward implementation.The Iranian oil minister explained that specific overseas expedition jobs will be launched using Iranian competence, with technical information to be reviewed by a joint working group.
He also pointed out that Iran faces feedstock shortages in NGL plants in its western area, while Iraq presently flares considerable volumes of associated gas from fields near the Iranian border.
The arrangements intend to recover this gas and transportation it into Iran.Paknejad arrived in Baghdad on a two-day official visit at the invitation of Iraqs oil minister.
In addition to meetings with energy authorities, he is also anticipated to fulfill Prime Minister Mohammed Shia Al Sudani.
Upon arrival, Paknejad checked out the memorial site honoring the late Iranian commander Qassem Soleimani and Iraqi militia leader Abu Mahdi al-Muhandis.
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This post very first appeared/also appeared in Tehran Times