Tuesday, April 23, 2024

Russia plans to develop 6 oil and 2 gas fields in Iran

The Iranian deputy oil minister says Russia’s state-run oil company Gazprom is going to develop six oilfields and two gas fields in the Islamic Republic.

Ahmad Assadzadeh added that Iranian and Russian officials have agreed during talks in Moscow to fast-track plans to finalize deals to this end.

Assadzadeh expressed hope that the two sides will sign the deals until the end of the Persian year.

Earlier, Iran’s Oil Minister Javad Oji and Russia’s Deputy Prime Minister Alexander Novak held talks in Moscow over the details of a $40 billion deal signed in July by the National Iranian Oil Company and Gazprom.

Oji said following the meeting Iran offered some contracts to Russian companies that are attractive and meant to encourage Russia to invest in Iranian oil and gas projects.

Novak for his part said Moscow will continue talks with Iran to put in place mechanisms to implement oil and gas swap deals.

Iran and Russia have expanded their energy ties since February when the US and its Western partners imposed a huge number of sanctions on Moscow over the Ukraine war.

Iran’s oil industry has been under the US sanctions as well for a long time.

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