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Iran fears Iraq's acquisition of a joint oil field through Americans and Europeans
(Reuters) - Iranian Oil Minister Bijan Namdar Zangana expressed concern over Iraq's acquisition of his country's stake in a joint oilfield, using foreign expertise in the field.
Zangana said in a televised interview that Iraq was benefiting from the services of Iranian contractors for maintenance and modernization.
He said the first phase of the Azadakan field needed investments of $ 5 billion and $ 600 million.
"The amount of oil extracted from the Azadkan field is under 6 to 7 percent, so we need the technology needed to increase the volume of extraction," he said.
The oil minister said that Iraq is using the best American and European contractors to extract oil from this field, even if it is slow, it will also take our share.
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