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Russian oil and gas companies can invest over $50 bln into fields’ development in Iran

Energy is the most promising sphere for cooperation between Russia and Iran, according to presidential aide Yuri Ushakov

MOSCOW, April 2. /TASS/. Investments of Russian oil and gas majors into development of fields in Iran can be over $50 bln, presidential aide Yuri Ushakov told reporters on Monday.

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Russian oil companies discuss joint projects in Iran

"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 bln," Ushakov said.

It was reported earlier that Gazprom, Rosneft, Lukoil, Gazprom Neft, Tatneft and Zarubezhneft signed memoranda of understanding with the National Iranian Oil Company (NIOC) from 2016 onward. Some of them already explored fields and submitted their development proposals to the oil ministry of Iran.

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