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Iran and Saudi Arabia in Early Energy Investment Discussions in Vienna

OIL

Iran's Oil Minister Javad Owji and Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman met on the sidelines of the OPEC seminar in Vienna this week.

  • "Owji and Bin Salman discussed bilateral issues between Iran and Saudi Arabia, including investment in the oil and gas industry and exploring the possibility of joint investment," according to SHANA news agency reports.
  • Back in March, Saudi and Iran announced they had agreed to restore diplomatic ties in a deal brokered by China, ending a seven-year rift.
  • Iran and Saudi Arabia share more than 28 oil and gas fields which have never been exploited due to disagreements in terms of the amount of exploitation and level of access.

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