The CEO of the National Iranian Oil Company (NIOC) announced the development of Iran's oil and gas fields with the participation of Russian companies.

Iran PressEurope:  Mohsen Khojastehmehr, the CEO of the National Iranian Oil Company (NIOC), who accompanied the Iranian Minister of Petroleum Javad Owji on his visit to Russia, said: "According to the agreements reached, the National Iranian Oil Company will develop Iran's oil and gas fields jointly with Russian companies."

He said that Iran and Russia are ranked first and second in the world in terms of oil and gas reserves, adding: "Russia has many capabilities in terms of developing oil and gas fields and providing the necessary equipment, and in this regard can enhance its cooperation with Iran in such fields as joint ventures, developing oil and gas fields and enhancing Iran's output."

Khojastehmehr also noted the expansion of economic relations, especially in energy, as one of the most critical features of the President's state visit to Russia.

The CEO of the National Iranian Oil Company, noting that Iran and Russia as two influential countries in the region have geopolitical importance and potential economic capabilities, said: "Iran and Russia with these capacities are among the most influential countries in the world."

206

Read More:

Iran, Russia sign energy agreements

$80-90/b oil price favorable