3 ways of investing joint oilfields with Iran – ministry

BAGHDAD / IraqiNews.com: The joint oilfields between Iraq and Iran will be invested by one of three ways according to the memorandum of understandings signed between the two countries, director of the ministry’s legal and commercial department said on Friday. “The joint oilfields will be invested through; direct investment or giving each state its share to invest it by its own or through giving the field to a neutral company to invest it and then to give each state its share,” Sabah al-Saadi told Iraqi News. “There is a memorandum of understanding has been signed recently with Iran too solve the joint oilfields disputes,” he added. The value of Iran’s exports to Iraq stood at 3 billion dollars in 2008 but Iraq forecasts that it will rise to 4 billion dollars in 2009, the ambassador added. SH (P) 1