Tehran, Baghdad to Resume Talks on Joint Oil Projects

Iran and Iraq will start new round of talks in Tehran on 26th May on issues such as developing the Sohrab joint oilfield and establishing a joint oil company, Iran's Mehr News Agency reports.

The managing director of the National Iranian Central Oilfields Company, Mehdi Fakour, said that eight drilling rigs are currently in operation in oilfields that are shared with Iraq, and that the output is "satisfactory".

Iran reportedly produces 68,000 barrels per day of crude oil from four oilfields associated with Iraq: Naftshahr, Paydar Gharb, Dehloran and Aban.

Oil Minister Rostam Qasemi said in August 2011 that the Iranian government should consider plans for the development of joint oilfields in the border areas with Iraq.

By the end of the fifth development plan (2015), the country's oil production must increase to 5.2 million barrels per day (bpd) and this should happen from the country's joint fields," the ISNA News Agency quoted Qasemi as saying.

In January, Iran and Iraq announced that the two countries have reached an agreement to develop joint oil fields in border areas to increase their crude output.

(Source: Tehran Times)

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