Speaking at a meeting with Russian Federation economic stakeholders in Moscow, Paknejad expressed his enthusiasm for the gathering.

“I am delighted to be here with you today. Iran’s oil industry offers numerous investment opportunities – a treasure trove, in fact – including the development of oil and gas fields, construction of refineries, and petrochemical complexes,” he said.

Paknejad noted that Russian companies are currently executing contracts worth more than $7.5 billion in several Iranian oil and gas fields.

“These projects have made significant progress and have created opportunities for collaboration between Iranian and Russian companies in the supply of goods and construction,” he added.

The oil minister emphasized that the return on investment in Iran’s oil industry is highly attractive.

However, he stressed that realizing these opportunities requires the participation of banks and financial markets to help stakeholders successfully conclude contracts.

Paknejad also highlighted the supply sector as another key and attractive area within the oil industry. “There are currently favorable opportunities for Russian companies, many of which are already active as suppliers in Iran’s oil projects,” he said.

He invited all economic stakeholders to explore investment opportunities in Iran’s oil industry in coordination with the Embassy of Iran in Moscow and to take advantage of the current favorable conditions.