Seven Iranian oil fields will be developed in cooperation with Russian companies, according to Iran’s oil minister.
Iran will sign an energy agreement of $ 4 billion with Russian colleagues, Iranian oil minister Mohsen Paknejad, announced, since the two nations seek to strengthen ties while trying to deal with punishing economic sanctions.
Speaking on state television earlier on Friday, Paknejad said the agreement aims to develop seven Iranian oil fields in cooperation with Russian companies.
From military cooperation to energy, banking and agriculture, Tehran and Moscow have been involved in deeper ties since the beginning of the military conflict in Ukraine, signing a strategic association treaty in January.
Friday’s agreement is seen as another step in its attempt to eliminate barriers in all spheres of their cooperation.
The agreement also occurs when Iran seeks to generate impulse for nuclear negotiations with the United States that resume in Oman on Saturday, after consultations with their allies in Moscow and Beijing earlier this week.
OPEC
On Thursday, Paknejad with the Vice Primer Russian Minister Alexander Novak, Putin’s man in relations with the organization of petroleum export countries (OPEC).
The meeting took place when several members of the OPEC+, the group includes the OPEC and its allies led by Russia, suggested that the group increased oil production in June for the second consecutive month.
The increase in the proposition underlines a dispute by members about members on the fulfillment of production fees.
It also follows the calls of US President Donald Trump so that OPEC decreases oil prices and their return to a policy of “maximum pressure” on Iran, whose Washington oil exports want to reduce to zero.
On Friday, the two countries also announced that Moscow can supply 1.8 billion cubic meters (BCM) or natural gas to Tehran this year at a price that has not yet been agreed.
Paknejad said the agreement had not been completed, but the country works to obtain an agreement as soon as possible, with the Russian firm Gazprom implementation.
The two countries have long discussed this center in Iran, with the possible participation of Qatar and Turkmenistan.
Pulmonary history
Russia has a long history of cooperation with Iran in the field of energy production and supply, and helped Tehran build a nuclear reactor in Bushehr in the south of the country, the first of Iran.
In January, Russian President Vladimir Putin, at a meeting at the Kremlin with his Iranian counterpart Masoud Peeshkian, said Russia can possibly supply up to 55 billion cubic meters (BCM) or natural gas volume or both.
A 55 BCM figure would be similar to the performance of the submarines of Nord Stream 1 to Europe that were damaged by explosions in 2022 after the war in Ucrine, and have not delivered any gas since then.
Gazprom Russian Gazprom signed a memorandum last June with the National Iranian gas company to supply Russian pipe gas to Iran. Possible pipe routes have not revealed the bone.