Iran, Iraq extend natural gas agreement for five more years: Min.

Iranian Oil Minister Javad Oji says Iran and Iraq recently agreed to extend a deal to export Iranian natural gas to Iraq for five more years.

Oji said two standing agreements to export Iranian natural gas to two Iraqi power plants in the capital Baghdad and the southern Iraqi city of Basra were extended for half a decade.

“Fortunately, technical issues to extend the agreements have almost been resolved,” he said.

The Iranian oil minister said the two countries had also agreed to build oil and natural gas pipelines and renovate Iraq’s oil refineries.

Tehran and Baghdad also agreed to exchange information on the exploration and development of joint fields.

“Iran is highly capable in the field of oil and natural gas production and the refinery and petrochemicals industry,” Oji said.

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