Azerbaijan, Baku, May 15/Trend M. Moezzi
Iran and Iraq are scheduled to hold another round of negotiations on May 26 over partnering to develop their joint oil and gas fields. The two neighbours first began talks six years ago, Mehr news agency reports.
Forming a joint technical and operational six-person committee and creating a joint oil company in Tehran are on the meeting's agenda.
Tehran and Baghdad have agreed to co-develop the Sohrab oil field with Iranian contractors and funding. Sohrab is in southwest Iran in the Khuzestan Province.
There is a preliminary agreement for the two countries to partner on three joint oil fields, said Mehdi Fakoor, head of Iran's Central Oil Fields Company (ICOFC)
While both Iran and Iraq prefer to use domestic contractors to work on the three fields, foreign companies aren't prohibited from participating in the projects said Mr. Fakoor.
In all, the two neighbours share 23 hydrocarbon fields and have agreed to split them into three groups: exploration, development and production.