Speaking in the meeting, Osouli underlined the long history of Iran-Turkmenistan relations as two neighboring countries with deep cultural ties and introduced some of the activities and experiences of KEPCO in the Caspian Sea region, Shana reported on Saturday.

He pointed to the capabilities and achievements of his company in deep-water operations.

The official mentioned the formation of the South Caspian Oil Research Consortium, blocking and prioritization of exploration operations as well as signing an agreement with Azerbaijan for cooperation in Caspian Sea’s Alborz block as some of the important measures taken by KEPCO over the past few years.

Osouli also referred to the establishment of shipbuilding facilities in northern Iran and the construction of Caspian and Amir-Kabir platforms, as well as the construction of multi-purpose vessels by Iran and noted that the Islamic Republic has the potential to provide services and cooperate with Turkmenistan in the mentioned fields.

Ghorbanov for his part welcomed the expansion of cooperation between the two countries, especially in technical and engineering sectors, and underlined the important role of Turkmenistan embassy as a bridge of communication through which logical and executive proposals will be provided to Iranian companies operating in Turkmenistan.

Referring to the cooperation between Iran and Azerbaijan, the Turkmen ambassador expressed hope that Turkmenistan would also be able to use Iran’s services and technical knowledge in deep-water operations and that a meeting of the two countries’ economic committee would be held as soon as possible.

“There is great potential for expanding Turkmen-Iranian energy cooperation in the Caspian Sea, which could contribute to the two countries’ economic development,” he emphasized.

KEPCO is a subsidiary of the National Iranian Oil Company (NIOC) founded in January 1998. The company is active in a variety of oil and gas-related areas including exploration, development, and production in the South Caspian Sea and three littoral provinces of Mazandaran, Golestan, and Gilan in Iran.

KEPCO supervises all the contracts signed by local and international companies regarding the exploration and development of hydrocarbon reserves in the area including the pertinent environmental matters.

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Members of the panel included private sector businessmen active in the fields of drilling services, environmental technologies to purify oil deposits from aquatic zones, optical filter technology to search for oil and gas fields, and research and development in the industry, according to SHANA.

Reza Padidar, Chairman of the Energy and Environment Committee of TCCIM, during the meeting, expressed the readiness of Iranian oil and gas industrialists to partner with Russian companies in the fields of strategic items in the oil and gas industry.

He said a list of the items would be provided for the Russian companies to consider if they were interested in cooperating with Iranian private sector partners.

“Iran is interested in accessing the latest technologies in the world and is ready to cooperate in the field of well equipment, production of ESS and ESP pumps, alloy pumps as well as gathering gas flares and transferring them to the production line,” Padidar added.

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The projects are envisaged to increase Iran’s crude oil production capacity by 280,000 b/d and are planned to be developed by domestic experts, he added.

He said the contracts entail domestic manufacturing of 84 industrial items by Iranian companies.

The official further added that so far 10 such contracts had been signed and 10 others were being prepared to be signed within the next two months. The remaining contracts are expected to increase Iran’s oil production capacity by 70,000 b/d.

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He said he had realized that EIED was a very capable complex involved in the implementation of engineering and design projects of oil, gas and petrochemical projects.

The Iraqi official further said he was pretty much impressed by learning about the size of the projects and achievements of EIED in the oil industry, saying EIED experts had exerted the greatest efforts in oil fields under the sanctions, which is “admirable”.

The visit was aimed at assessing methods and means for cooperation between the two neighbors subsequent to a recent state visit by Iranian President Hassan Rouhani to Iraq.

He further said that Iraq had a company like EIED which could establish ties with its Iranian opposite number.

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