19 July 2022 - 17:34
  • News Code: 459606
NIOC cements Largest FDI Deal with Gazprom

TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC) said the memorandum of understanding with Gazprom is one of the biggest foreign direct investment deals in the history of Iran's oil industry, and said: The National Iranian Oil Company does not ignore any investment opportunity.”

Mohsen Khojastehmehr said on Tuesday that Iran and Russia are both keen on bolstering their strategic ties, adding promotion of economic relations and investment in oil and gas fields is emphasized by President Ebrahim Raisi and fully supported by Javad Owji, Minister of Petroleum of Iran.

Referring to the meeting with the senior executives of Gazprom during his recent trip to St. Petersburg, the Deputy Minister of Petroleum said: “In accordance with the order of Vladimir Putin, the President of Russia, the senior Gazprom executives attended Tehran last week and we had constructive talks.”

The National Iranian Oil Company (NIOC) and Russia's Gazprom signed a memorandum of understanding worth roughly 40 billion dollars.

The document was signed during an online ceremony on Tuesday, July 19, 2022 by NIOC CEO Mohsen Khojastehmehr and Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee.

The development of Kish and North Pars gas fields, pressure enhancement of South Pars field, development of 6 oil fields, gas and product swap, completion of LNG projects, construction of gas export pipelines and other scientific and technological cooperation are among the most important highlights of the memorandum.

The relations between Iran and Russia under the 13th administration have been put on a new path with the support of Iranian President Ebrahim Raisi and Russian President Vladimir Putin, and the two countries want to expand relations at all economic and political grounds.

News Code 459606

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