Iran willing to use Brazilian expertise in deep-water oil production
Tehran, Iran, Oct. 30
By Mehdi Sepahvand -- Trend:
Iranian Oil Minister Bijan Zanganeh has said the country is interested in using Brazil's expertise in producing oil at deep-water fields.
Brazil has good experience in extracting oil from deep-water resources and due to the need that Iran has to production from such places the two countries can conduct good cooperation, Zanganeh said, Fars news agency reported Oct. 30.
The Iranian official met Brazilian Minister of Development, Industry, and Trade Armando Monteiro a couple of days earlier.
After the meeting, he said the two sides had held talks to boost cooperation in the field of oil.
"Brazilians are willing to buy LNG from Iran and the two sides have decided to continue negotiations in this regard and set up a joint workgroup by Brazil's Ministry of Mines and Energy and Iran's Ministry of Petroleum to follow up on today's talks," he further said.
Zanganeh added that Brazilians can invest in manufacturing necessary oil industry equipment under creditable brands in cooperation with Iranian manufacturers and the products.
Monteiro arrived in Tehran earlier the week accompanied by a delegation of representatives from Brazil's chamber of commerce, central bank, economic officials of Brazilian Foreign Ministry as well as businesspeople and economic activists.
The two countries' presidents had discussed expansion of bilateral talks while they were in New York in September to attend the UN General Assembly.
Brazil is Iran's largest South American trade partner. The two countries' trade turnover is about $1.6 billion a year.
Edited by CN