Iran,Russia to Boost Oil Cooperation
Iran,Russia to Boost Oil Cooperation
Iran's Oil Minister Javad Owji explored ways to boost oil cooperation with his Russian counterpart Nikolai Shulginov in Moscow.

TEHRAN (Iran News) – Iran’s Oil Minister Javad Owji explored ways to boost oil cooperation with his Russian counterpart Nikolai Shulginov in Moscow.

The two ministers also discussed the need for furthering mutual economic cooperation as well.

Strengthening Iran-Russia cooperation within the framework of OPEC Plus in order to safeguard both countries’ interest and regulating the energy market, regional cooperation in transferring Iranian gas to Pakistan and India with the participation of Russian companies, domesticizing oil equipment in Iran, technology transfer and boosting joint investments were among the most important topics discussed during Owji’s meetings with the Russian officials here.

The two ministers were meeting within the framework of the Iran-Russia Joint Economic Commission.

At the end of the session, Iranian and Russian oil ministers stressed their will to further develop cooperation in oil and gas extraction sectors.

Owji also met with the Russian Deputy Prime Minister Alexander Novak when he discussed ways to expand economic relations, removing banking, customs and infrastructure obstacles, strengthening bilateral cooperation in oil and energy sectors and joint investment in infrastructure projects.

The Iran-Russia Joint Economic Commission has been held 15 times in Tehran and Moscow so far.

Meanwhile before departure for Moscow and on a TV program Owji explained the highlights of his meeting with Russian officials, and said: “Good decisions have been made in the field of gas trade, which can lead to transformation in the region.”

He said: “For the past month, areas of cooperation in various sectors, including energy, have been explored with the Russian companies and government.”

He added: “Today, since our arrival, good meetings have been held with the chairman of the Russian Joint Economic Commission in various fields of energy, roads and transportation, agriculture, energy, cases that were ambiguous in the past and projects that Russian companies are operating in Iran.”

The Oil Minister continued: “In the field of energy, good decisions were made in the upstream sector, the development of oil and gas fields, as well as the downstream sector in the development of petroleum refineries and petrochemical plants and equipment and technology transfer, which are strategic in Iran’s oil and gas industry.”


Owji also referred to the meeting with Russian Deputy Prime Minister Alexander Novak, and said that the meeting was focused on new areas of cooperation with Russia. “The two countries have good potential in the field of energy, and we hope that the agreements reached in these meetings with the Russian Ministry of Energy, the Russian Deputy Prime Minister and various large Russian companies will soon lead to the conclusion of agreements.”

He stated that in the meeting with major Russian companies, good agreements have been reached on the transfer of technology and strategic equipment needed in the oil industry, adding that a comprehensive and complete plan of cooperation with Russia has been prepared and provided to this country. “We hope to reach new agreements and contracts within the framework of this plan.”

Regarding the expansion of cooperation between Iran and Russia, the Oil Minister said: “The views of Iran and Russia in the OPEC+ coalition are very close, and we were on the same boat regarding the recent agreements reached by OPEC+.”

“Iran, considering the existing infrastructure, is ready for gas trade and swap with Russia and other neighboring countries,” he went on to add.

The Oil Minister, stating that proposals were also presented in the field of gas conversion to liquefied natural gas (LNG) and its exports, said: “Good decisions have been made in the field of gas trade, which can lead to a transformation in the region.”

“Both Iran and Russia are targeted by sanctions and they can take advantage of this opportunity, and those Russian companies that do not cooperate with European and American companies can cooperate with Iran,” Owji said. In the upstream sector and the development of oil fields and construction of equipment and technology transfer, companies of the two countries can do so by establishing a joint factory in Iran and producing additional equipment for use in Iran.

Regarding the agreement in other economic sectors, he said: “Good agreements have been reached in the agricultural sector. Various Russian companies have also identified numerous power plant projects; fortunately, we reached good agreements in the field of financing, which is emphasized by the various organs of the country.”

The Iranian head of the Iran-Russia Joint Commission expressed hope that negotiations with Russian companies would lead to signing of contracts and provision of financial resources in various economic sectors of the country.