Diplomats attending the third meeting of the Iran-Iraq technical committee have signed a memorandum of understanding laying the groundwork for greater cooperation in the fields of oil training, oilfield services and research and development.

Iran Daily reports that National Iranian Oil Company managing director Seifollah Jashnsaz and Iraq's deputy oil minister identified joint development of oil and gas fields as the most pressing priority for the group.

However, attendees also paved the way for closer collaboration in oil and gas training and other key support services.

The memorandum comes as development of Iraq's vast oil fields picks up pace, with China National Petroleum Corp, BP and ExxonMobil among the international firms to have won contracts in the region.

Meanwhile, oilfield services supermajors including Schlumberger and Halliburton have in the past week unveiled plans to strengthen their presence in the country with the establishment of regional headquarters and training programmes.

Oil and Gas Directory: Training and Development