India, Iraq forge strategic energy trading pact

Sign four wide-ranging agreements.

Indian Prime Minister Manmohan Singh said India’s energy trading relationship with Iraq should be turned into a strategic partnership, including joint ventures in oil exploration.

Singh and Iraqi Prime Minister Nouri al-Maliki held high-level talks on strategic bilateral, regional and international issues, including trade and investments in Iraq.

Iraq has pre-qualified Indian companies such as ONGC Videsh Limited, MRPL and Reliance for participation in the Nasiriya Project Bid Round. It has offered three oil blocks in the Middle Furat Oil Field to India.

A memorandum of understanding in the energy sector envisages cooperation in the areas of upstream and downstream oil and gas activities and related infrastructure.

Other documents signed included MoUs on bilateral cooperation in water resources development and management; foreign office consultations and training of diplomats.

Both prime ministers also agreed to expand cooperation in agriculture, pharmaceuticals, health care and information technology.