Baghdad/ Iraq TradeLink: Iraqi Oil Minister Jabbar al-Lu'aibi disclosed that a partnership contract was signed with the Arab Maritime Oil Transport Company.
In a statement, he added that the contract will develop Iraqi oil fleet and change it into a leading member in oil and gas transportation fields.
Iraq plans to buy two new vessels to be added to the current ones in the field oil transportation.
According to the contract and the approval of the Iraqi Cabinet, Iraq will have 22.5% of the contract without having financial obligations.
Iraq is a founding member in the Arab company and has part of its capital.
The company is one of the organs of the Arab Oil Exporting Organization (OAPEC).