Iran, Iraq agree to co-develop shared oilfields

TEHRAN, Jan. 24 (Xinhua) -- Iran and Iraq have reached an agreement to jointly develop two shared oilfields in the southwestern Khuzestan Province, a deputy at the National Iranian Oil Company (NIOC) was quoted as saying by Financial Tribune daily on Wednesday.

"We are collaborating with Iraq is some (shared) fields," said Gholamreza Manouchehri, deputy for development and engineering at the NIOC.

"An agreement has been made to integrate the development of two small oilfields in the city of Khorramshahr," said Manouchehri.

Iran shares a spate of oil and gas reservoirs with neighboring countries, including several oil deposits with Iraq to the west.