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FINANCIAL NEWS
Iran, Iraq ink border oilfields deal
11 Jan 2011
Iran’s deputy Oil Minister Alireza Zeighami said that his country signed an agreement with Iraq on developing joint oilfields that are located on the border areas between the two countries, reported Tehran Times.
The minister said that this agreement aims to utilize crude output from these oil fields. He said that committees formed from experts from the two countries would negotiate later on the technical and financial details of the agreement.
The minister said that there are 23 joint oilfields on Iran’s borders with Iraq.
While the signing took place in Tehran, further negotiations are to take place in Baghdad.
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