The Norwegian Oil for Development (OfD) initiative aims at assisting developing countries, upon their request, in their efforts to manage petroleum resources in a way that generates economic growth and promotes the welfare of the whole population in an environmentally sustainable way.
The signing of 7 June 2010 represents an expansion of the cooperation with Iraq, with the addition of the Iraqi Ministry of Finance and the Iraqi Ministry of Environment to the program. The main focus of the agreement is the transferring of expertise and knowledge from Norway to Iraq, especially with regards to institution building, resource, environmental and revenue management. Good governance, transparency and anti-corruption are also vital components in all the petroleum related assistance the OfD offers. The Norwegian experiences are based on a joint consideration of all these components and they are considered integrated in the petroleum management.
The signing of the agreement 7 June took place at the Iraqi Ministry of Foreign Affairs in Baghdad, signatories were the Norwegian ambassador to Jordan an Iraq, Petter Ølberg and the Iraqi Minister of Foreign Affairs, Hosiar Zebari.
Read more about the Oil for Development program at Norad's webpages.