All news

Russia and Iran agree to expand cooperation in hydrocarbon production — treaty

The document also specifies that Russia and Iran will promote the development of bilateral cooperation in the energy sector in a number of areas

MOSCOW, January 17. /TASS/. Russia and Iran have agreed to expand cooperation in the oil and gas sector and encourage investment in development of new fields, according to the Comprehensive Strategic Partnership Treaty signed between the two states.

"The contracting parties expand cooperation in the oil and gas sector on the principles of equality and mutual benefit and take measures to improve the energy security of the contracting parties through the efficient use of fuel and energy resources," the text of the treaty published on the Kremlin website says.

The document also specifies that Russia and Iran will promote the development of bilateral cooperation in the energy sector in a number of areas. In particular, this includes encouragement of investment in projects to develop oil and gas fields in the territory of both countries.