- Iranians holding Ashura mourning for Imam Hussein
- Third step: Iran officially informs EU of plan to expand nuclear R&D
- Iran expands nuclear R&D program: Rouhani
- Iran goes ahead in space tech, despite US sanctions: ISA
- Resistance Front undermining Israeli regime power: Top commander
- Iran: 7 crew members of detained UK ship freed
- US addiction to sanction threaten its power: Iran’s Zarif
- Dutch role in 2007 Stuxnet attack on Iran’s nuclear site under scrutiny: Iraian FM Spox.
- Iran: ‘Sustainable Security 2019’ kicks off in Caspian Sea
- Iran’s Zarif leaves Tehran for Moscow
- Shiraz University ranked 1st in liver transplantation: Iranian health official
- Japan’s Abe to meet Iran’s president to discuss easing tension in region
- Downing of US spy drone shattered war threats against Iran: Top IRGC commander
- IAEO head reports development of first ion-therapy hospital in west of Asia
- Iranian Taekwondo team wins 2019 World Cup championship
- US sanctions failed to force Iran to buckle: Report
- Crew fixing Iran oil tanker broken down in Red Sea
- As Iranians hold nerves, US seeks to scare off trade
- Leader expresses concern about Kashmir, urges India to follow fair policy toward Muslim-majority region
- Iran saffron exports down due to smuggling, government restrictions: Exporter
- Iran FM warns US against ‘serious miscalculation’ in Persian Gulf
- Iran’s resistance policy led to release of oil tanker: MP
- Iran in reverse brain drain as top students come home in rising numbers
- Iran official calls for compensation for tanker seizure
- Iran hails N Korea for standing against ‘unilateral’ US demands
- Shia Muslims celebrate Eid Al-Ghadir
- North Korea praises Iran’s anti-US struggle
- Zarif says to meet French president Friday
- Iranian court hearing case of UK oil tanker
- Over half of Japanese voters oppose joining US-led anti-Iran coalition in Persian Gulf: Poll
- IME trade ups by 21 percent in July
- Finland backs INSTEX in defiance of US
- US anti-Iran policy in high seas harms Europeans: LA Times
- Iran, China confer on Syria
- Iran, Finland share views on Persian Gulf dialogue forum: Zarif
- Iran warns US against seizure of oil tanker
- Iraq eager to benefit from Iranian Police’s experience
- Iran planning 3rd step to reduce nuclear commitments: Spokesman
- Leader grants clemency to over 1,000 Iranian inmates
- Registration for Arbaeen Pilgrimage to begin in Iran on Friday
- Iran, Iraq agree to reopen Khosravi border crossing
- Iran deplores suicide attack at Kabul wedding hall
- Iran to hold int'l hand-woven carpets expo
- Zarif meets with Iran-Kuwait Friendship Group members
- Adrian Darya oil tanker not under any sanctions, says Iran envoy
- ‘Iran to stay in nuclear deal as long as its interests are met’
- India envoy happy with positive trend of trade with Iran
- Iran’s annual export of white meat tops 2.5m tons: Minister
- Iranian scientist discovers new state of matter
- Iran, Japan diplomats discuss bilateral ties
- Iran, Ansarullah, European representatives Yemen developments
- ‘Iran to become self-sufficient in producing aircraft engines'
- US issues seizure warrant for Iranian supertanker 'Grace 1'
- Neanderthal tooth unearthed near Iran’s Zagros mountain
- Iran’s Zarif due in Kuwait on Saturday
- US faces humiliating defeat after Gibraltar releases Iranian tanker: Envoy
- Spokesman rejects claim on Iran’s commitment in exchange for tanker release
- Zarif reacts to release of Iranian tanker in Gibraltar
- Israel, UAE engaged in secret talks on Iran arranged by US: Report
- US threatens visa ban as Iranian-operated tanker sets to sail from Gibraltar
- Enemies must factor Iran's global power in their calculations: IRGC's chief commander
- Trump’s administration conflicting messages to Iran baffle go-betweens: Report
- Gibraltar releases Iran-operated tanker despite US pressure
TEHRAN, April 03 - Russia is going to invest in developing Iran’s oil and gas fields for more than $50 billion, presidential aide Yuri Ushakov said.
TEHRAN, Young Journalists Club (YJC) - "Energy is the most promising sphere for cooperation between Russia and Iran. Leading Russian oil and gas companies such as Gazprom, Gazprom Neft, Rosneft, Lukoil, Zarubezhneft and Tatneft are systemically working on development of fields in Iran. The expected amount of investments is over $50 billion," he told reporters in Moscow Monday.
Last month, Iran awarded its second post-sanctions oil contract to Zarubezhneft to re-develop Aban and West Paydar oil fields in the country’s west.
Iran’s Minister of Petroleum Bijan Zangeneh said the agreement was the first oil field development deal awarded to a Russian company and also the first oil deal sealed through the new format of Iran’s oil and gas contracts.
In February, Zarubezhneft signed an agreement with Iran’s IDRO Oil to jointly bid for the development of Susangerd oil field in southwest Iran.
Russian Energy Minister Alexander Novak said more than 10 different Iranian fields have been presented to Gazprom, Rosneft, Gazprom Neft, Zarubezhneft, Taftneft and Lukoil for development.
Russia and Iran signed six provisional agreements to collaborate on “strategic” energy deals worth up to $30 billion when President Vladimir Putin visited Tehran last November.
While Russia has been building up its energy assets in the Middle East as part of a wider push to expand its economic and military clout, Moscow and Tehran have a mutual interest in developing relations in the face of Western sanctions on both countries.
During Putin’s visit, Iranian officials said the two countries agreed to “strategic cooperation in the energy sector”, ranging from development of Iran’s oil and gas fields to collaboration on research.
Russia and Iran have also been working on oil-for-goods deals worth up to $20 billion but several dates on beginning the arrangement have been pushed back.
Iranian officials say the country needs $200 billion of investments for upstream and downstream projects by 2021. The biggest contract since the lifting of sanctions in 2016 has been with France’s Total to develop part of the massive South Pars gas field at a cost of $4.8 billion.
Free trade zone with Eurasian states
Ushakov also said an agreement to create a free trade zone between the Eurasian Economic Union (EAEU) and Iran may be signed within months.
"The talks on drafting a temporary agreement on the creation of an EAEU-Iran free trade zone have been finalized. The plan is to sign it within months," Tass news agency quoted him as saying.
Iran and EAEU members started to develop the agreement in 2015, though the signing has been postponed several times.
The Eurasian Economic Union includes Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.
Armenia’s deputy minister of economic development and investment Hovhannes Azizyan said last month that the agreement might be signed by the end of May for a period of three years.
Iran’s Ambassador to Russia Mehdi Sanaei also said talks on the free trade zone agreement between the Eurasian Economic Union and Iran were close to completion.
Source: Presstv
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