Joint energy projects will serve Iran-Iraq interests: Minister
Iranian Oil Minister Javad Owji on Wednesday said Iran and Iraq are the large holders of hydrocarbon reserves and joint projects in this sector will be in their interests.
He made the remarks in a meeting with a visiting Iraqi delegation headed by Oil Minister Hayan Abdel-Ghani, Shana reported.
Owji said Iran and Iraq have a common stance on OPEC and OPEC+ policies, expressing his gratitude to Abdel-Ghani for supporting the alliance’s production cuts aimed at stabilizing oil prices.
Strong historical and religious bonds exist between the two nations, said the minister, adding that Iran’s 13th administration is seeking to expand relations with neighboring countries, particularly Iraq.
Touching upon the stance Iraq adopted in the recent OPEC+ meeting, Abdel-Ghani said the coalition’s decision helped stabilize oil prices and was to the advantage of producers, consumers, and even investors.
He added Iraqi Prime Minister Mohammed Shia al-Sudani attaches great significance to the development of relations with Iran.
Iranian companies can participate in different projects in Iraq, including joint fields development projects, the oil minister continued.
He referred to offshore and onshore exploration blocks as an area for Iranian knowledge-based companies’ cooperation with Iraq.
Investment in gas production and oil refinery projects is also among the potential fields for bilateral cooperation, he concluded.