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March 14th, 2012 
FAKE NEWS for the Zionist agenda He said on Wednesday that bilateral negotiations about the development of joint oil fields are usually carried out every one and a half months alternatively in Iran and Iraq.
“Studies on the development of joint fields started from scratch because neither us, nor Iraqis had any experience in this area,” the official added.
Zeighami, who is also managing director of the National Iranian Oil Refining and Distribution Company, further stated that one of the joint fields has not been fully explored yet and both countries must draw up a plan for complete exploration of the field.
“Studying oil fields takes a long time even when done independently and, therefore, we must wait before their results are known,” he said.
The official said Iran and Iraq are currently discussing the development of three oil fields whose exact production rate is not known yet, “but certainly, production from these three fields will not be less than 30,000 barrels per day.”
On January 9, 2011, Iran and Iraq announced that the two countries have reached an agreement to develop joint oil fields on border areas to increase their crude output.
Both countries are members of the Organization of Petroleum-Exporting Countries (OPEC) which supplies about 40 percent of the world’s oil.
Iran shares oil and gas fields with most of its neighbors, including Iraq, Kuwait, Persian Gulf littoral countries, Qatar and Oman, as well as Turkmenistan.
Iranian energy officials said in July 2011 that as much as 35 percent of the country’s energy development budget will go towards the development of joint oilfields.
Having the world’s third-largest proven oil reserves and the second-largest natural gas reserves, Iran has moved in recent years towards becoming a major exporter of refined oil and petrochemical products with significant success.
SS/AZ/HGH
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