BAKU, Azerbaijan, December 28. The two countries have a lot of opportunities for cooperation in this field since most of Iran’s hydrocarbon reserves are shared with Iraq, said Mohsen Khojasteh Mehr, deputy oil minister and CEO of the National Iranian Oil Company (NIOC), Trend reports.
The deputy minister said that the two countries have agreed to create a joint committee to research and exchange views on the exploration, development, and production of oil and gas from their shared fields. They will also decide on the joint development of one of their common hydrocarbon reservoirs and sign an agreement on it later.
He also talked about another agreement reached between Iran and Iraq is to collect the gas that is flared in Iraq’s oil fields and facilities near the Iranian border.
Khojasteh Mehr noted that the NIOC will cooperate with the Iraq National Oil Company to collect the flared gas with the help of Iranian specialists. Some of the collected gas can be exchanged with the gas that Iran exports to Iraq.
The cooperation between Iran and Iraq was confirmed by their oil ministers, who met in Iran on December 27. They also signed an agreement to organize training courses for their oil workers together.
Iraqi Oil Minister Hayyan Abdul Ghani visited Iran with a delegation and met with Iran's Oil Minister Javad Owji on December 27.
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