Egypt is seeking to reach an agreement with Iraq over importing crude oil directly, said Petroleum and Mineral Wealth Minister Tarek el Molla.

He expected that the deal would be finalized by the first quarter of 2017.

This came on the sidelines of the 97th meeting of the Organization of Arab Petroleum Exporting Countries (OAPEC), which was held in Cairo on Thursday under Kuwait's Minister of Oil, Electricity, and Water Essam al Marzouq.

Representatives of the Egyptian companies will pay a visit to Iraq soon to get acquainted with available investment opportunities and participate in restructuring the sector in Iraq, added el Molla.

Source: MENA