The Iranian delegation plans to arrive in Russia on March 27 to present terms of oil and gas contracts for Russian companies, Russia’s Energy Minister Alexander Novak said after talks with Iranian Oil Minister Bijan Namdar Zangeneh.
"We agreed that on March 27, the Iranian delegation will arrive to present the Iranian oil contract. This will speed things up significantly," he said.
The minister said that it is planned to hold the presentation in Moscow but this is still under consideration.
Novak marked good progress regarding involvement of Russian companies in oil and gas projects in Iran.
"Specific fields have been selected, which are interesting for the companies, negotiations are being held. Some projects are on stage of agreement preparation, some are on the stage of data study. But we think that in the near future we will receive complete information from the Iranian partners on the basic conditions of Iranian oil contracts," Novak said.
"The potential of agreements on exploration and production of oil and gas in Iran could be valued at $20 billion," Novak said in an interview with Rossiya 24 broadcaster