Iran and Iraq have officially inked a Memorandum of Understanding (MoU) focused on enriching the skill sets of workers within the oil sector, as reported by Shana News Agency linked with the Iranian Oil Ministry.
The agreement, formalized in Tehran, involved the signing by Mehdi Ali-Madadi, Iran’s Deputy Oil Minister for Management and Human Resources Development, and Bassim Mohammed Khudair, Iraq’s Deputy Oil Minister for Extraction Affairs. The ceremony was graced by the presence of Iranian Oil Minister Javad Owji and his Iraqi counterpart Hayan Abdel-Ghani.
This MoU, expected to roll out in the coming weeks, outlines plans for training courses catering to oil ministry staff from both nations, fostering collaborative research initiatives, and facilitating virtual meetings.
During a bilateral meeting on the same day, Owji expressed optimism about the potential for joint ventures between Iran and Iraq, leveraging their substantial hydrocarbon reserves for mutual benefit.
In a reciprocal gesture, Abdel-Ghani urged Iranian companies to actively participate in various projects within Iraq, including endeavours linked to the development of shared oilfields. He highlighted investment prospects in gas production and the construction of oil refineries as key areas for potential collaboration.
Post the meeting, Owji affirmed Iran’s unwavering readiness to support Iraq in advancing its oil industry, spanning both upstream and downstream sectors. Additionally, he revealed that the discussions encompassed agreements spanning exploration, the enhancement of joint oilfields, and the revitalization of Iraqi refineries with the backing of Iranian expertise.
