The oil minister, who arrived in the Russian capital to attend the forum, added negotiations are aimed at turning the memorandums of understanding (MoUs) the two sides have already signed to cooperate in upstream and downstream sectors into contracts.

“I have participated in the forum at the invitation of Russian Deputy Prime Minister Alexander Novak, who is the head of the Russian party of Iran-Russia Joint Economic Commission,” said Owji, adding all oil and gas industrialists and leading companies of the world have attended the event.

Given their rich hydrocarbon reserves, Iran and Russia have good capacities for cooperation in oil and gas industry, he underlined.

“Since I am heading the Iranian side of the Iran-Russia Joint Economic Commission, a meeting will be also held to follow up talks between other ministries and economic organizations of the two countries,” continued the minister, saying the next meeting of the commission is slated for November.

Under the 13th administration, Iran has signed desirable energy contracts with neighboring states, stated Owji, reiterating that bilateral talks will be held in Moscow to expand cooperation.   

The Iranian minister will deliver speech in a specialized meeting dubbed “Global Oil and Gas Market: Surveying a Turbulent Period” on Thursday.

According to the forum organizers, more than 4,000 guests, including prime ministers, ministers, ambassadors of the Commonwealth of Independent States (CIS), lawmakers, and heads of international and regional organizations, from over 60 countries are participating in the international event.

Having the motto of “New Reality of Global Energy: Building the Future”, the Russian Energy Week International Forum kicks off in Moscow today.