TEHRAN – Iranian Deputy Oil Minister for International Affairs and Trading Amir-Hossein Zamaninia (L) said on Monday that oil and gas investment capacity between Iran and Russia could reach $10 billion.

According to Shana, addressing the first Iran-Russia Joint Energy Committee meeting Zamaninia noted the economic relations between the two countries doesn’t match the political relations and the two sides should take necessary measures to fill the gap.

In the meeting, Russian Deputy Minister of Energy Molodtsov Kirill, who co-chaired the meeting, mentioned Russian companies capabilities saying, “Russian companies have great potential in developing Iran’s oilfields.”

“The great volume of oil production in Russia (more than 10 million barrels per day) is an indication of the country's high-technology in this sphere,” he added.

The first Iran-Russia Joint Energy Committee meeting was attended by representatives of giant Russian oil and gas companies like Gazprom, Rosneft, Zarubezhneft and Lukoil.

EF/MA