Iraq, Iran agree to form joint committees to manage shared oil fields

Shafaq News/ Iraq's Minister of Oil, Haiyan Abdul-Ghani, and his Iranian counterpart, Javad Oji, agreed on Wednesday to form joint committees to manage the shared oil fields between their respective countries.

A statement from the Iraqi Ministry of Oil said that the two ministers met in Tehran and agreed on establishing committees to enhance and expand prospects of future cooperation.

These committees, according to the statement, will include:

* A committee to develop the border fields, in accordance with international norms and practices that guarantee the rights of both sides.

* A committee for joint investments in gas, petrochemical industries, and renewable energy.

* A committee to rehabilitate and develop refineries.

* A committee for joint training and development.

* Cooperation in the fields of oil marketing, drilling, supply of pipes and spare parts, oil exploration, and other areas.

The joint meeting also included the signing of a memorandum of understanding for joint cooperation in the field of training and development, signed by the Iraqi Ministry of Oil's Undersecretary for Exploration, Bassim Mohamed Khadir, and his Iranian counterpart.

Abdul-Ghani arrived in Iran on Tuesday on a formal visit, during which he is expected to meet with officials in the Iranian government and Ministry of Oil.