The statement cited comments by Iraqi Oil Minister Jabar al-Luaibi and Algerian Energy Minister Mustapha Guitouni, who arrived in Baghdad on Sunday.
The Algerian delegation will hold meetings with Iraqi energy companies “to achieve concrete steps toward sealing a cooperation agreement with Sonatrach”, said Luaibi, mentioning specifically projects to develop Iraq’s gas wealth.
Iraq continues to flare some of the gas extracted alongside crude oil at its fields because it lacks the facilities to process it into fuel for local consumption or exports.
Guitouni expressed hope of strengthening cooperation in oil exploration and natural gas, the Iraqi ministry statement said.
Iraq is the Organization of the Petroleum Exporting Countries’ second-largest crude producer behind Saudi Arabia, with output of 4.4 million barrels per day. Fellow OPEC member Algeria has estimated output of 1 million bpd.