Iran, Iraq in discussion to establish joint oil company
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E-mail Xinhua, May 15, 2012
Iran and Iraq are talking to establish a joint oil company, the local satellite Press TV reported on Tuesday.
Iran and Iraq are set to hold a new round of talks focusing on the development of a joint oil field as well as the establishment of a joint oil company, said the report.
Energy officials from the two countries will discuss the issues in Tehran on Tuesday.
Tehran and Baghdad are scheduled to form a six-member joint technical committee to conduct related studies and monitor the implementation of joint plans, according to the report.
Currently oil officials of the two neighboring countries have agreed to develop the Sohrab oil field in Iran's southwestern province of Khuzestan, and Iranian contractors will develop the joint field under a proposal by Iraq, said Press TV.
The two countries have 23 joint oil fields in the border regions.
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