By Razaq Nameq

Azzaman, April 24, 2009

Iraqi Oil Minister Hussein Shahristani is on a three-day visit to Tehran to review the possibility of joint development of oilfields straddling international borders.

The minister is scheduled to meet his Iranian counterpart and also hold talks on how to expand bilateral development in areas of energy, power, exploration and refining.

Shahristani wants Iraq’s neighbors, particularly Iran, Kuwait and Saudi Arabia to work together to develop joint oilfields.

As Iraq lacks the means to do so, the minister hopes any exploration on the part of these countries will not be at Iraq’s expense and share of output.

Iraq and Iran cooperate on various fronts. Iran has emerged as the country’s number one trade partner with the value of bilateral trade expected to hit $5 billion by the end of the year, most of it in Iran’s favor.

Iraq and Iran to develop joint oilfields -  Source