Iran, Iraq extend gas deal for another 5 years

The head of the National Iranian Gas Company (NIGC) said the gas contract between Iran and Iraq, which would finish on June 20, 2024, has been extended for another five years.

News ID: ۸۴۱۶۵۶

11 May 2024

EghtesadOnline: Majid Chegeni made the remarks on the second day of the 28th Iran International Oil, Gas, Refining and Petrochemical Exhibition (Iran Oil Show 2024), which is underway at the Tehran Permanent International Fairgrounds.

Iran agreed to export its gas to neighboring Iraq for another five years, he stated.

Currently, the two countries have good relations in the field of energy, and the officials of both sides are willing to strengthen these relationships, he emphasized.

On the sidelines of the Iran Oil Show, the head of the National Iranian Oil Company (NIOC) also held a specialized meeting with senior managers of Iraqi oil companies during which the Iraqi side invited Iranian firms to partake in the country’s oil and gas projects.

In this meeting, NIOC Head Mohsen Khojstemehr discussed the areas of cooperation between the two countries with the Iraqi delegation, which was comprised of Director General of the Oil Pipelines Company Ali Abdul Kareem Al-Moussawi, Director General of Basra Oil Company Bassem Abdul Karim and heads of some other major companies.

The Iraqi delegation said that the proximity of the two countries is a great opportunity for the Iraqi oil industry.

Emphasizing the respectable neighborliness of the two countries, Khojstemehr considered it appropriate to use the potential of the Iranian private sector in Iraqi oil projects.

In addition to 1,500 Iranian firms, 250 companies from 12 countries have taken part in Iran Oil Show 2024, whose motto is “Petroleum industry, production leap, and technological optimization”.‎

Participants from the upstream, intermediate, and downstream sectors of the oil industry, along with associations and unions of oil industry equipment manufacturers, and first-time producers NTBFs are showcasing their achievements in the Iran Oil Show 2024, which is the most important Iranian event related to the oil industry.

Inaugurated on Wednesday, the exhibition will be open to visitors at the Tehran International Permanent Fairground every day from 9:00 a.m. to 4:00 p.m. (0530 to 1230 GMT) until Saturday. / Mehr