The Minister of Iran oil and gas contracts with Russia can be concluded in 2016

The Minister of Iran oil and gas contracts with Russia can be concluded in 2016

Russian companies have good opportunities for cooperation with Iran, but the first contracts in the oil and gas industry can be connected until next year, said co-chair of the bilateral intergovernmental Commission Mahmoud Vaezi.

MOSCOW, 12 Nov. Iran expects that the first contracts with Russian oil & gas companies can be made next year, the current one can only rely on the agreements in the field of rail transportation, said Thursday the Minister of communications of Iran, co-Chairman of the bilateral intergovernmental Commission Mahmoud Vaezi.

“When the Minister (of energy of the Russian Federation Alexander) Novak was on a visit to Tehran (in late October), along with him were representatives of various companies, and more than ten were from the oil and gas industry. They could negotiate (with Iranian partners) about possible collaboration. In the context of the present meeting of the intergovernmental Commission they also have an opportunity to continue the discussion. I believe that Russian companies have very good opportunities to cooperate with Iran,” vaezi said.

He noted that while early to speak about the forthcoming conclusion of contracts in this area. “I don’t think,” said he, answering the question whether the signing of some contracts by the end of this year.

“In other projects in the railway sector, for example, this can be done before the end of the year. But as for the oil and gas industry, it’s complicated, I don’t think we will be able to announce something by the end of the year. Next year I hope,” said the Minister.

During his visit to Iran in late October, the Minister of energy of Russia Alexander Novak said that Russian companies had Iranian partners presented their capabilities, including exploration, production, refining, increase of oil recovery factor from existing fields, and other projects. It was agreed that in the near future, Tehran will hold a road show and will present the terms of the contracts for entry into Iranian projects. This will be done in the next month. According to the Minister, are interested in entering the Iranian market “Zarubezhneft” and “Gazprom Neft”, “Gazprom” and other oil and gas companies of the Russian Federation.