TEHRAN - Iranian Oil Minister Javad Oji has said that the two countries will continue expanding bilateral relations in various fields especially in economy and energy.

Oji who is the head of the Iran-Russia Joint Economic Commission made the remarks after a meeting with Russian Deputy Prime Minister Alexandre Novak in Moscow on Friday, IRNA reported.

As reported, Novak will retire from the joint commission as the head of the Russian side and the country’s energy minister will replace him.

During the meeting which was held at the Russian Prime Minister's Office in Moscow in the presence of Igor Levitin Assistant to the President of the Russian Federation and Sergei Tsivilev Minister of Energy of the Russian Federation; Oji praised the Novak’s efforts during his three years of presence at the joint commission, expressing Iranian side readiness for the continuation of bilateral cooperation with the Sergei Tsivilev who took over the post as head of Russian side of the joint commission.  

In the meeting, which was also attended by Iranian Ambassador to Russia Kazem Jalali, Oji said that during the 13th administration under the leadership of late President Ebrahim Raisi, he provided the basis for expanding bilateral relations between the two neighboring countries.

 “That process will be consolidated by relying on those basics including implementation of the signed bilateral contracts,” the minister said.

Oji also expressed his appreciation for the deep sympathy expressed by Russian President Vladimir Putin and other Russian officials on the death of the Iranian president, announcing that Raisi made relentless efforts to expand relations with the neighboring countries as well as other independent countries like Russia which resulted in developing and consolidating bilateral relations. 

In his turn, Alexander Novak announced that Moscow was determined to continue cooperation with Iran, stressing on sooner implementation of the already signed contracts.

Restating his condolences for Raisi's passing, he said: Russia is determined to continue the path Iranian and Russian presidents laid for reinforcing bilateral relations.

The two sides held talks about a variety of subjects concerning bilateral relations including speeding up completion of North-South Corridor which includes Rasht-Astara Railroad whose construction MOU was signed in April 2023.

Russia to invest in Iran's new oil fields

Speaking to reporters after the meeting, Oji also said that the Russian Federation will invest in Iran's oil fields.

The official noted that all the items on the agenda of the relations between the two countries during the last three years were reviewed in the meeting with the Russian head of the Iran-Russian Joint Economic Commission, among which was Russia's investment in Iran's new oil fields.

The progress in the field of industry and oil and gas, power plants, nuclear power plant number two Bushehr, banking, North-South corridor, and Rasht-Astara railway were reviewed, he added.

The two sides discussed solving challenges in joint projects, he said, noting that new agreements and decisions were made, especially in the oil and gas and petrochemical industries.

Currently, seven oil fields are being developed in Iran with the investment of various Russian companies, he said.

Today, 220,000 barrels of Iran's oil production are from those fields in Iran in which the Russians have invested, Oji said.

Iranian experts are currently meeting the requirements of Russian companies in the upstream and downstream fields of the oil industry, and in turn, some of the requirements of the Iranian oil and gas industry are being met by Russian companies, he added.

EF/