Iran and Iraq to Sign Contract on Shared Fields

The managing director of the Iranian Central Oil Fields Company (ICOFC), Mehdi Fakour, reported of a new round of negotiations with Iraqi oil officials to achieve a ‘common language’ to expand cooperation on the development of shared fields, based on national interests of the two countries.

In an interview with the Iranian news agency Shana, Mr. Fakour said that the bilateral determination to expand cooperation especially at shared fields is the biggest achievement of past three years of negotiations.

“ICOFC intends to conclude a contract with the Iraqi side that meets the interests of both countries, and through which the two sides to be able to pursue their common issues ... fortunately the two sides have reached some agreements.”

The Iraqi delegation is going to visit Iran in near future.

According to official, the Iranian Oil Central Oil Fields Company’s plans are concentrated on development of upstream projects and accelerating production from shared oil and gas fields.

(Source: Shana)

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