Iraqi Oil Minister Hussein al-Shahristani says there is general agreement with Iran on the need to establish a bilateral commission to invest in the development of joint oilfields, an Iraqi newspaper has reported.
Shahristani said Iran and Iraq will sign a bilateral agreement soon to invest in their joint oilfields, including the Majnoon field, al-Sabah quoted Shahristani as saying.
He described reports claiming that Iran has been exploiting the Majnoon oilfield as false. The Majnoon oilfield is located near the border with Iran, and it is estimated that it contains 30 billion barrels of oil, which makes it one of Iraq’s largest fields.
According to the U.S. Department of Energy, the Majnoon oilfield had a production capacity of 50,000 barrels a day prior to the U.S. invasion of Iraq in March 2003.
Shahristani said Iran and Iraq will sign a bilateral agreement soon to invest in their joint oilfields, including the Majnoon field, al-Sabah quoted Shahristani as saying.
He described reports claiming that Iran has been exploiting the Majnoon oilfield as false. The Majnoon oilfield is located near the border with Iran, and it is estimated that it contains 30 billion barrels of oil, which makes it one of Iraq’s largest fields.
According to the U.S. Department of Energy, the Majnoon oilfield had a production capacity of 50,000 barrels a day prior to the U.S. invasion of Iraq in March 2003.
Source: Teheran Times
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