Russian Oil and Gas Companies Set for Iranian Projects

The National Iranian Oil Company (NIOC) is ready to involve Gazprom, Rosneft and Tatneft in the development of gas and oil fields in Iran according to its CEO Mohsen Khojasteh Mehr.

• "Gazprom, Rosneft, Tatneft, and other Russian companies have done studies on the development of a whole number of gas and oil fields in Iran in recent years. The NIOC should hold substantive negotiations based on the results of the studies performed and conclude contracts for the development of these fields as swiftly as possible," Khojasteh Mehr said.
• Khojasteh Mehr also mentioned an MOU with Gazprom - "Cooperation within the framework of this agreement is already developing dynamically at present. This document specifically addresses the development of two fields, North Pars and Kish. If they are fully realized, Iran's capacity for gas production will increase by more than 200 million cubic meters per day. The swap and export capacities of both companies will significantly increase as a result,".
• "The program to develop the oil and gas fields of the Islamic Republic of Iran in the course of the next eight years requires $160 billion in investments, $70 billion of which will be directed to the gas development sector. The Islamic Republic of Iran also has 19 gas processing plants capable of processing over 1 billion cubic meters of gas per day. And in the course of the next eight years, we plan to increase this capacity by more than 50%," he said.