Iran, Iraq to Develop 5 Oilfields

05 May 2010 - Iran Daily

Managing director of Iranian Central Oil Fields Company (ICOFC) Alireza Zeighami said Iran and Iraq have come to an agreement to provide a Master Development Plan (MDP) for the development of 5 shared oilfields.

According to the Mehr News Agency, Zeighami said devising such a comprehensive plan aims to attain further information to develop the shared oilfields in the near future; though, he did not name any of these 5 shared fields.

Iran and Iraq have different legal and contractual systems to develop their oil and gas fields. Once a common ground is established between the two nations, development of the shared border fields can be on the agenda

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