Iran and Russia look to expand ties in the energy sector

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Iranian and Russian ministers speak at a meeting in Tehran.
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  • Russian Deputy Prime Minister Alexander Novak said that projects to develop oil fields in Iran are underway and new projects are being outlined, "where I expect progress soon"
  • Iranian Oil Minister Javad Owji said that the two sides also discussed the construction of nuclear power plants in Iran and other electrical power generation

Tehran, Iran-– Iran is looking to deepen energy ties with Russia as the latter is keen to explore and develop oil and gas projects in the Islamic Republic.

This was stated by Russian Deputy Prime Minister Alexander Novak during talks with Iranian Oil Minister Javad Owji in Tehran. He is on a two-day visit to the country.

“We are implementing projects to develop oil fields in Iran and have outlined new projects, where I expect progress soon,” he said.

The Iranian minister, in turn, said the Russian and Iranian delegations had spent several hours at the negotiating table. Among other participants was Deputy Chairman of Gazprom Management Committee Vitaly Markelov.

According to Owji, the delegations discussed issues related to oil and gas.

“I am pleased to announce that major Russian companies have already arrived in Iran, came to terms with Iranian companies, and contracts are already being fulfilled,” he said, expressing hope that more contracts will follow in the future.

The sides also discussed the construction of nuclear power plants in Iran and other electrical power generation matters, Owji added.

Novak arrived in Tehran on Tuesday on a ‎two-day visit at the ‎head of a high-ranking delegation for talks with ‎Iranian ‎officials.‎

In addition to the oil minister, he is expected to meet Iran’s First Vice President Mohammad Mokhber and ‎‎Central Bank Governor Mohammad Reza Farzin. ‎

He will also attend the opening ceremony of the 27th Iran International Oil, Gas, ‎Refining and ‎‎Petrochemical Exhibition (Iran Oil Show 2023), and visit a number ‎of leading Iranian ‎companies.‎

Cooperation in the energy sector will be among the Russian deputy PM’s ‎discussions with Iranian officials.‎

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