An Iraqi delegation has recently discussed cooperation with Iranian companies in oil and gas projects during a meeting with Iran’s Energy Industries Engineering and Design Company (EIED), Tehran Times reported.

Cooperation could include refinery complexes and supplying Iranian natural gas to the cities of Nasiriyah and Basra in Iraq.

The Secretary General of the Iran-Iraq Chamber of Commerce Hamid Hosseini is looking forward to Iranian companies forming a consortium with public and private Iraqi companies to participate in the country’s oil and gas projects.

Iraq recently signed an agreement with Oman to allow Iraq to export crude oil to and import petroleum products from Oman, as well as to establish oil storage facilities in both countries, with the possibility of building a shared refinery in Oman for processing imported Iraqi crude.

Meanwhile, Iran aims at increasing exports of crude oil and natural gas to offset the effects of the US sanctions.

The two countries are planning to increase bilateral trade to more than $20 billion a year.