BAKU, Azerbaijan, May 18. Iranian Deputy Oil Minister and the CEO of the National Iranian Oil Company (NIOC) Mohsen Khojasteh Mehr and Deputy Chairman of Russian Gazprom Company Vitaly Markelov held talks on investment strategies for development of oil and gas fields, Trend reports citing Shana News Agency.
According to the report, the officials also discussed their cooperation in line with the $40 billion memorandum of understanding signed between Iran and Russia last year.
Tehran and Moscow discussed their cooperation in the energy sector in the presence of Iran’s Oil Minister Javad Owji and Russia’s Deputy Prime Minister Alexander Novak on May 16.
The two countries’ delegations exchanged views on bilateral cooperation in the oil, gas, petrochemical, electricity, and nuclear energy fields.
Their discussions also revolved around following up previous memorandums of understanding and overcoming obstacles in the path of implementing the MoUs.
The first business-to-business (B2B) meeting on cooperation in oil and gas sectors was also held between Iranian and Russian companies at the Research Institute of Petroleum Industry (RIPI) in Tehran on May 16.
Talking during the meeting, Iran’s Deputy Oil Minister for International Affairs and Trade Ahmad Asadzadeh called for boosting cooperation between Iranian and Russian small and medium-sized enterprises (SMEs).
On May 17, Iran and Russia on Wednesday signed 10 documents, comprising six MoUs, two contracts, one agreement and a roadmap, on cooperation in oil industry.
Twenty-eight Russian companies have taken part in the 27th Iran International Oil, Gas, Refining and Petrochemical Exhibition, also known as Iran Oil Show 2023, and will hold talks with Iranian exporters and economic experts on the development of trade and industrial ties.