Iran in quest for energy projects in Iraq

Iran's Oil Minister Bijan Namdar Zanganeh announced that the country's companies are ready for partnership in implementation of oil and gas projects in Iraq.

"The Islamic Republic of Iran's Oil Ministry is prepared to increase cooperation with Iraq in the oil and gas industries," Zanganeh said in a meeting with a delegation from the Iraqi oil ministry in Tehran on Wednesday.

He underlined support for supply of Iran's gas to Iraq, and said, "The Iranian companies are ready to execute oil and gas industry projects in Iraq."

Iran in June began exporting gas to Iraq after a several years of delays.

The neighbors, both members of the Organization of the Petroleum Exporting Countries (OPEC), initially signed a deal in 2013 for Iran to supply Iraqi power stations, but officials in the past blamed poor security in Iraq for hampering the implementation of the agreements.

Exports had started at approximately 7 million cubic meters per day and would eventually reach up to 35 million cubic meters per day, Amir Hossein Zamaninia, the Deputy Oil Minister for Trade and International Affairs, said.

Iran signed two contracts to export gas, one for the Iraqi capital, Baghdad, and the other for southern Iraqi city of Basra.

Iran, which has huge gas reserves alongside its oil resources, exports gas to Turkey.

EA