Iranian Oil Minister Ali Owji has met China National Petroleum Corporation officials to discuss ways to increase cooperation, local reports have said.
CNPC’s Middle East department deputy head Libin Zhang met Owji in Vienna on Thursday, said the local reports.
During the meeting, the two sides reportedly exchanged views about issues of mutual interest.
CNPC has already been active in southwestern Iranian Azadegan oilfield. Reportedly, China has participated in development of North Azadegan oilfield, whose first phase became operational five years ago.
With an area of 1,500 sq km, the Azadegan joint oilfield is located near Iran-Iraq border.
Top economic officials in Iran said in April that the country was capable of increasing the value of its exports to China to $27 billion within the next few years.
Iran is hard pressed to sell its oil to countries across the world due to the sanctions placed by the United States on it.
This cooperation could help the Middle-Eastern country bypass those sanctions and add to its export earnings.
