Algiers (IP): Iran’s oil minister and Russia’s energy minister agreed on signing new contracts to develop oil and gas fields.

Iran PressAfrica: Javad Owji and Nikolai Shulginov exchanged views on the implementation of oil and gas contracts the two countries signed before on the sidelines of the 7th Gas Exporting Countries Forum (GECF) Summit of Heads of State and Government in the Algerian capital Algiers.

Representatives of some Russian companies, including Gazprom and Zarubezhneft, also attended the meeting, during which the establishment of a gas hub within the framework of the Shanghai Cooperation Organization (SCO) in the Eurasian region, gas trade between Iran and Russia and other countries in the region, construction of infrastructure needed for brisk trade, and connection of electricity grids of Iran and Russia were also discussed.

Speaking in a joint press conference with Russian Deputy Prime Minister Alexander Novak on Wednesday, Owji said the contracts signed with Russian companies to develop eight oil fields have helped Iran add more than 200,000 barrels to its daily production.

In his response to a question posed by Russia’s Energy Intelligence reporter about the outlook for Russian companies’ participation in Iran’s oil projects, the minister added the National Iranian Oil Company (NIOC) started its negotiations with Russia’s leading companies several months ago and contracts for the development of eight Iranian oil fields have been so far signed with Russian companies.


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