Iran hopes to expand Russian companies' participation in oil and gas projects in the country

ASTRAKHAN. Feb 13 (Interfax) - Iran expects to expand the participation of Russian companies in oil and gas projects in the country, Iranian Ambassador to Russia Kazem Jalali told reporters on Friday in Astrakhan.

"Russia is now practically the largest investor in all fields, both gas and oil, and it has invested in some of our fields. We have already offered some new fields for Russia to develop, both as Russian investments and as joint projects," Jalali said.

Jalali added that some gas fields have also been offered to Russia.

"We hope that they will consider them and that this investment will begin," Jalali said.

As reported, Gazprom and the National Iranian Oil Company in July 2022 signed a memorandum of understanding on strategic cooperation in Tehran. The document outlines an analysis of potential collaboration, specifically to develop Iran's oil and gas fields, and oilfields; implement large- and small-scale LNG projects; construct gas pipelines; as well as in scientific, technical, and technological cooperation.

State-owned ZN-Vostok is developing the Shadegan field in Iran, located in Khuzestan Province, with reserves of 7 million tonnes. Furthermore, according to the Iranian news agency Shana, the company is participating in the development of the Aban and Paydar-e-Gharb fields under an IPC contract.