BAKU, Azerbaijan, August 2. A number of memorandums and contracts have been signed in Iran on investment of $80 billion in the country's oil, gas and oil refining sectors since the new Iranian government came to power (August 2021), Iranian Oil Minister Javad Owji said, Trend reports citing Shana News Agency.
According to Owji, a memorandum worth $40 billion was signed with Russia's Gazprom company in various fields.
“In general, 100 billion barrels of crude oil can be produced in Russia, and the country currently produces 7-8 million barrels of crude oil per day. Meanwhile, 153 billion barrels of crude oil can be extracted in Iran but it currently has the means to produce 3.8-4 million barrels of crude oil per day,” he said.
The minister also pointed out that a plan has been prepared to increase Iran's crude oil production. Discussions with the Russian side resulted in the signing of agreements and contracts on the development of Iran's oil and gas fields, as well as the construction of a LNG plant, and the swapping of oil products and gas.
“Also, a contract worth $4 billion was signed with the Russian side on the development of Iran's joint oil and gas fields”, Owji added.
The minister noted that along with to Russia's Gazprom, other Russian companies are also expected to participate in plans to invest $160 billion in Iran's oil and gas sector.
Owji stressed that an agreement has been reached with the Gazprom on the laying of a gas pipeline to countries such as Oman and Pakistan.
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