According to a statement issued by the Iraqi Prime Minister's office, the MoU encapsulates a comprehensive discussion of the collaborative relationship between Iraq and Iran, outlining measures to enhance the capacities of both countries in the face of international economic hurdles, according to local Iraqi news website Shafaq News.
The agreement was signed in the presence of Iran's Oil Minister Javad Owji and his Iraqi counterpart Hayan Abdul Ghani.
The statement elucidated that the MoU encompasses the organization of cooperative endeavors for the exploitation of shared oil fields, cooperation in the extraction of crude oil, its purification and refinement, and technological dealings with associated gas.
In this MoU, which was signed in the office of Iraq's PM, it was also decided that the Islamic Republic of Iran would participate seriously in the petrochemical industry and the training of Iraqi oil ministry personnel.
Earlier on Wednesday, the Iraqi Minister of Electricity, in his meeting with the Iranian Oil Minister, characterized the negotiations between the two sides as "fruitful," expressing a keen interest in fostering cooperative partnerships aimed at the development of the energy sector.
MNA/PR