Iraq & Iran Signs MOU for Joint Cooperation

Source: 2/21/2017, Location: Middle East

Mr. Jabbar A. Allibi the minister of oil signed a memorandum of understanding with his Iranian counterpart Mr. Beigin Zangana to establish joint committees to finish some of the important cases.

Such as: the case of the joint fields between the two countries in order to invest these fields perfectly, the committee of studying the capability of extending the Iraqi crude oil pipeline from Kirkuk through the Iranian lands, and the committee of studying the transportation of the Iraqi oil from Basra to Abadan.

The memorandum stated also to continue the cooperation in the sector of supplying the power stations with the Iranian gas, inviting the Iranian companies to invest in the oil & gas sector, and rehabilitating the infrastructure of the oil & gas facilities in addition to the petrochemicals factory in Basra.

Iran shown its readiness to grant scholarships to the Iraqi students in the oil specializations.

Mr. Allibi "after the end of discussions" said that they was positive and fruitful because the two sides was keen to activate the horizons of cooperation between the two countries to serve the joint benefits. In addition to the coordination of the attitudes in OPEC to achieve the demanded balance in the global oil market in order to support the prices.

Mr. Zangana said that the two sides held an extended meeting to discuss the common concern issues which are related with the development of the oil & gas industry and the border oil fields, as well as the implementation of many strategic important projects to strengthen the opportunities of cooperation between the two countries. He also was comfortable for the elevation of the oil prices in the global market after the resolution of OPEC to cut the production.

It is worthy to mention that the Iranian minister Mr. Beigin Zangana visited Baghdad for one day with a high class delegation. And was received by Mr. Allibi the minister of oil and many responsible members from the ministry of oil.

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