Tehran, Baghdad sign MoU to enhance joint oil co-op

Oil officials from Iran and Iraq inked a Memorandum of Understanding (MoU) to broaden bilateral ties in the field of oil, Report informs via Mehr News Agency.

Iraq's Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani Al-Sawad, met and held talks with the Iranian Oil Minister, Mohsen Paknejad, in Baghdad on Monday.

During the meeting, prospects for joint cooperation between the two countries were discussed.

Both sides held a high-profile meeting during which mechanisms for cooperation between the two countries in various sectors were discussed. A MoU and agreements were signed in the field of expertise exchange and joint cooperation, serving the interests of both countries.

The Iraqi minister noted that his country has promising gas investment projects and is working to achieve self-sufficiency in petroleum derivatives.

Minister Paknejad, in turn, expressed his gratitude for the warm welcome and visit to Iraq, as well as the deep cultural relations between the two countries.

He added the importance of continuing relations between the two countries in all fields.