TEHRAN,Iran, July 19. CEO of the National Iranian Oil Company Mohsen Khojaste Mehr said Iran signed the biggest strategic investment deal in the history of Iran's oil-related matters with Russia, Trend reports citing IRNA.
Khojasteh Mehr made the announcement at the signing ceremony of the strategic cooperation memorandum between Iran's National Oil Company and Russia's Gazprom.
"Iran needs $160 billion worth of investments in its oil and natural gas industries in the coming years," said Khojasteh Mehr.
He announced that a $4-billion contract has been signed with Russian companies for the development of 7 Iranian oil fields.
Iran has been planning to attract Russian investments to develop its Kish and North Pars fields, as well as trigger the development of six other oil fields.