Iraq and Oman sign MoU on cooperation in the oil and gas sector

Iraq and Oman have signed a memorandum of understanding (MoU) for cooperation in the oil and gas sector.

The MoU also includes the possibility of building a shared refinery in Oman for processing imported Iraqi crude, the Iraqi oil ministry said in a statement.

According to the MoU, Iraq will aim to export crude to Oman, import oil products from there and build oil storage facilities in both countries, the statement quoted Iraqi oil minister Thamer Ghadhban as saying.

The two countries will also explore prospects for cooperation and investment in oil and gas exploration and production. In addition to refining, manufacturing, storing and marketing crude oil and oil products between them, the ministry statement said.

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