MOSCOW -- Iran and Russia signed an agreement for boosting mutual cooperation in the fields of oil and gas here Thursday.

The agreement was concluded between visiting Iranian Deputy Oil Minister Hadi Nejad-Hosseinian and his Russian counterpart Alexander Varvnin, IRNA reported.

Under the agreement that was signed in the presence of Russian Energy Minister Igor Yusufov, the Iranian and Russian oil ministries are required to cooperate in the fields of exploration, excavation and drilling and to adopt effective measures to guarantee stability in the oil and gas markets.

The agreement also stresses encouraging the two sides' oil companies to cooperate regarding exploration and exports of gas and oil, development of oil and gas fields and cooperation with international organizations to preserve the environment.

Iran and Russia also agreed to hold regular rotating sessions of the Iran-Russia Oil and Gas Committee in Tehran and Moscow.

In a meeting with Nejad-Hosseinian the Russian energy minister called for expansion of Tehran-Moscow relations in oil and gas arenas.

Yusufov expressed satisfaction with the existing level of bonds between the Iranian and Russian oil ministries and hoped that visit exchanges would help expand bilateral ties.

Yusufov and Nejad-Hosseinian also discussed issues related to different phases of Iran's South Pars gas field, and explored avenues for participation of Russian firms in Iran's oil projects.