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Gazprom and Iranian oil company expand cooperation

Gazprom, Irán, acuerdo, petróleo, gas

Gazprom and Iranian oil company expand cooperation

Moscow, Jul 19 (Prensa Latina) The Russian energy giant Gazprom and the National Iranian Oil Company signed a memorandum of cooperation for the development of oil and gas fields.
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The Russian state energy company has promised to cooperate in the start-up of six oil fields, while the parties will negotiate an additional joint project that foresees the injection of 15 billion dollars by Gazprom, RT reported.

The executive director of the Iranian entity, Mohsen Khojste Mehr, also stated that the signing of the agreement represents the largest foreign investment in the history of Iran’s oil industry, attracting several tens of billions of dollars from the Russian side, as reported by the Persian agency Tasnim.

Khojste Mehr specified that the agreement provides for the development of the Kish gas fields, near the island of the same name in the Persian Gulf, and North Pars, another offshore field in the same area, with an investment of 10 billion dollars by Gazprom.

The participation of the Russian company in the projects will increase daily gas production by more than 100 million cubic meters, the official stated.

The director of the Iranian oil company highlighted the role played by Tehran and Moscow in ensuring “the world’s energy sustainability”, and indicated that both countries have “a total of 70 billion cubic meters of gas reserves, which represents 30 percent cent of world reserves.

The signing of the agreement occurs on the same day that Russian President Vladimir Putin is scheduled to meet in Tehran with Iranian President Ebrahim Raisi and his Turkish counterpart, Recep Tayyip Erdogan, to address a series of bilateral cooperation issues, as well as issues on the international agenda including the conflict in Ukraine and peace in Syria.

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