Iran, Iraq Mull 2 Oil Deals

11 Jan 2017
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TEHRAN, Jan. 11 (Shana) -- Tehran and Baghdad are in talks to strike deals regarding development of two joint oilfields, a senior Iranian petroleum official said.


Deputy Petroleum Minister in International Affairs and Trading Amir Hossein Zamaninia said during a recent visit of an Iranian delegation to neighboring Iraq, the two sides discussed avenues for establishing oil ties and cooperation for development of joint oil fields.
The Iranian delegation, headed by Mr. Zamaninia, comprised representatives of the National Iranian Oil Company (NIOC), the National Iranian Gas Company (NIGC), Iranian Oil Pipeline and Telecommunication Company (IOPTC).

One of the deals will concern development of Parviz and Khorramshahr joint oilfields, said Zamaninia.
The other memorandum of understanding (MoU), he said, will be about cooperation in other oil-related areas like manufacture of items, gas export, and renovation of Iraqi refineries by Iranian private contractors.

"Iran is now ready to export gas to Iraq and Baghdad is also ready to receive the item," the official said.
He said the gas export pipeline to Iraq from Iran is now filled with gas but the required LCs 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 LC will open parallel with the Iraqi delegation's visit to Tehran in the near future.

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Iranian fuel conservation company (IFCO) a subsidiary of National Iranian Oil Company(NIOC) established in 2000 with the mission to regiment the fuel consumption in different sectors through review and survey of the current trend of consumption and executing conservation measures nationwide.

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