Ahmad Asadzadeh made the remarks at the opening ceremony of the first business-to-business (B2B) meeting between Iranian and Russian companies on cooperation in oil and gas sectors at the Research Institute of Petroleum Industry (RIPI) in Tehran.

He pointed to Russian Deputy Prime Minister Alexander Novak’s visit to Tehran and added, “Iranian and Russian oil and gas companies hold talks today and will sign contracts in the presence of Iran’s Oil Minister Javad Owji and Novak on Wednesday.”

On the sidelines of the first day of the 27th Iran International Oil, Gas, Refining and Petrochemical Exhibition, Iran’s Institute for International Energy Studies (IIES) in collaboration with Russia’s Roscongress Foundation will hold three expert meetings titled “New Energy Order: Common Interests and Threats”, “Expansion of Cooperation and Management of Competition”, and “Mechanisms and Needs” at Tehran International Permanent Fairground.

The 27th edition of the exhibition, aka Iran Oil Show 2023, will be held in the capital city from May 17-20.

Iran has manufactured sophisticated equipment, including 15,000-ton wellhead equipment, and produced 90 percent of catalysts in spite of sanctions, boasted Asadzadeh, adding more homegrown technologies will be unveiled during the meetings and the exhibition.