IP- Pointing out Iran's two gas transmission contracts with Iraq's power plants, Iran's petroleum minister said: "Based on the agreement of both parties, gas transmission contracts with Baghdad and Basra will be extended for 5 more years."

Iran PressMiddle East: Iran's petroleum minister, Javad Owji, arrived in Baghdad on Wednesday, May 10, 2023, at the head of a high-level delegation to meet Iraqi officials.

Iran-Iraq memorandum of cooperation (MOC) in the field of oil, gas, and petrochemicals was signed on Wednesday evening (May 10, 2023) between the petroleum ministers of Iran and Iraq in the presence of the Iraqi Prime Minister.

Based on the Iran-Iraq agreement, it was decided that the signed memorandum should be followed up through the joint working group meetings of the two countries.

Owji met Iraq's Minister of Electricity, Ziad Ali Fadhil, and stated: " Iran will cooperate with Iraq in the field of information exchange, exploration, development, and integration of joint oil fields."

Stating that the construction of oil and gas pipelines and the renovation of Iraqi oil refineries are among the other clauses mentioned in the Iranian-Iraqi memorandum of understanding (MoU), Owji stated that the extension of the gas export contract with the Ministry of Electricity of Iraq is an achievement, whose technical issues have been completely solved.

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