Iran, Russia Agree on Russian Investment in Iranian Oil Fields

Iran's Petroleum Minister Javad Owji announced on Friday that the Russian Federation has agreed to invest in Iran's oil fields.

Iran (IMNA) - The agreement was reached during a meeting with the Russian head of the Iran-Russian joint economic commission, where the progress in various sectors, including industry, oil and gas, power plants, nuclear power plant number two Bushehr, banking, North-South corridor, and Rasht-Astara railway, were reviewed.

The two sides discussed solving challenges in joint projects, resulting in new agreements and decisions being made, particularly in the oil and gas and petrochemical industries. Currently, seven oil fields are being developed in Iran with the investment of various Russian companies, with 220,000 barrels of Iran's oil production coming from these fields.

Iranian experts are working to meet the requirements of Russian companies in the upstream and downstream fields of the oil industry, while Russian companies are also meeting some of the requirements of the Iranian oil and gas industry.

News ID 763291


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