The CEO of the National Iranian Oil Company announced Iran's readiness to export technical and engineering services to Iraq, saying: Iran wants to benefit from Iraq's participation in the development of the oil and gas industry.
Speaking on Wednesday, June 22, at the meeting of the Joint Working Group on Iran-Iraq Oil Cooperation, Mohsen Khojastehmehr stated that all the efforts have been targeted at taking steps in various fields of oil, gas and development of economic relations between the two countries.
“It is time for Iran and Iraq to take practical steps to cooperate in the field of oil and gas activities and the scientific, technological and educational sectors,” he said.
He said that Iran and Iraq have a high capacity in the region and the world, and are two influential and competent countries in the Organization of the Petroleum Exporting Countries (OPEC) that must work diligently to ensure energy security in the region.
Khojastehmehr stated that the current capacity of Iran's oil production is about 4 million barrels per day and for gas it is 1 billion cubic meters per day, adding: “To increase the crude oil production capacity to about 6 million barrels per day in the next eight years to $90 billion and for bringing gas output to 1.5 bcm/d $70b investment is needed.”
The meeting of the Joint Working Group on Iran-Iraq Oil Cooperation started on Wednesday (June 22) and was chaired by Mohsen Khojastehmehr, the Deputy Minister and CEO of the National Iranian Oil Company, on behalf of the Iranian delegation, and Bassem Mohammad Khazir, the Iraqi Deputy Minister of Oil on behalf of the Iraqi delegation.
Preparing Roadmap for Iran-Iraq Future, Necessary
Speaking on Wednesday (June 1) at the meeting of the Joint Working Group on Iranian Oil Cooperation, Bassem Mohammad Khazir stated that in this important meeting a roadmap should be prepared for the future steps and goals of the two countries, adding: “Another important issue is Iranian technology and products. For example, this country already has a high capacity in many sectors such as power cables, pipes and fittings and up-to-date technologies that can be transmitted to us.”
He added: "The CEO of the National Iranian Oil Company emphasized the issue of training and transfer of technology and technical equipment in his remarks. The issue of transfer of expertise and technology is very important and we should be able to cooperate in this field."
"The most important thing for Iraqi oil industry officials right now is to develop cooperation and get results from interaction. We hope this trip will be the beginning of a broader cooperation, especially in the scientific and technical discussion of the remaining cases between the two," said the Iraqi Deputy Minister of Oil.