TEHRAN - The Oil Ministries of Iran and Iraq have signed a memorandum of understanding (MOU) to cooperate in the educational fields, the portal of Iranian Oil Ministry Shana reported.

The MOU was signed by Iran’s Deputy Oil Minister for Management and Human Resources Development Mehdi Ali-Madadi and Iraqi Deputy Oil Minister Bassim Mohammed Khudair in the presence of Iranian Oil Minister Javad Oji and his Iraqi counterpart Hayan Abdel-Ghani in Tehran on Wednesday.

According to the MOU, the two countries will hold training courses for each other’s oil staff.

Research cooperation, holding online sessions, and allocating scholarships from Iranian universities for the Iraqi Oil Ministry’s human resources are also among the subjects included in the memorandum.

The educational projects covered in the MOU will start either next month or two months later, the report said.

The MOU was signed during a meeting between Oji and a visiting Iraqi delegation headed by the country’s Oil Minister at the place of the Iranian Oil Ministry.

 ‘Joint energy projects serve both Iran, Iraq interests’

During the meeting with the Iraqi delegation, Oji said Iran and Iraq are both holders of huge hydrocarbon reserves and joint projects in this sector will be in both countries’ interests.

The minister 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.

He further pointed to the strong historical and religious bonds between the two nations, saying that Iran’s 13th administration is seeking to expand relations with neighboring countries, particularly Iraq.

The Iraqi oil minister, for his part, said Iraq attaches great significance to the development of relations with Iran.

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.    

The Iraqi official further stated that Iranian companies can participate in different projects in Iraq, including joint fields' development projects.

He referred to the development of 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 potential fields for bilateral cooperation, he concluded. 

Iran ready to develop Iraq’s upstream, downstream sectors

Speaking to the press after the meeting with the Iraqi delegation, Oji said Iran is self-sufficient in all sectors of the oil industry despite sanctions and the Islamic Republic is ready to develop Iraq’s upstream and downstream sectors.

“The two sides reached favorable agreements on the exploration and development of joint onshore and offshore fields in line with their previous sessions held in Tehran and Baghdad.”

The minister said a working group has been formed to follow up the renovation and reconstruction of refineries in Iraq by Iranian experts.

Given Iran and Iraq’s common stance on policies of OPEC and OPEC+, the two delegations held positive talks in this regard as well, the official said.

Mentioning the bartering of natural gas between the two countries, the minister said: “We expressed our readiness for collecting sour and rich gas in Iraq and exporting sweet gas to the neighboring state.”

He expressed hope the executive operations of projects, particularly the development of joint fields by both Iran and Iraq, will be carried out as soon as possible.

EF/MA

Photo: Iran’s Deputy Oil Minister Mehdi Ali-Madadi (L) and Iraqi Deputy Oil Minister Bassim Mohammed Khudair exchange signed documents in the presence of Iranian Oil Minister Javad Oji and his Iraqi counterpart Hayan Abdel-Ghani in Tehran on Wednesday.