Opec Governor Hossein Kazempour Ardebili last year said Iranian refineries could take delivery of Basra light crude, and an equivalent amount of Iranian light crude would then be exported from Kharg island in the Gulf.
"Under the swap project it is settled that some 350,000 bpd be transported from Basra to the refinery at Abadan," Adeli said in remarks carried by the ISNA students news agency on Sunday.
"The project then plans to make use of the Kharg terminals for Iraq's oil exports," he added. Adeli gave no details of when the swap could begin.
Kazempour last year said the arrangement could involve 700,000 barrels per day (bpd) of Iraqi Basra crude.
Adeli met an Iraqi delegation and joined a chorus of Iranian and Iraqi officials stressing co-operation, trying to ignore Baghdad's defence minister who accused Tehran of sending spies into Iraq to foment unrest. "From these meetings a co-operation framework was defined," he said. Abadan lies close to the Iraqi border in the oil-rich southwest of Opec's second biggest producer.
Last year, Kazempour mentioned even closer co-operation under which Iran and Iraq could jointly develop border oilfields, but there has been little further word on whether these deals will go ahead.