BAKU, Azerbaijan, February 18. Development of another joint Iranian oil field by Russia is currently being researched, Iranian Oil Minister Mohsen Paknejad said at a press conference with Russian Energy Minister Sergei Tsivilev in Tehran today, Trend reports.
Paknejad emphasized that there exists an opportunity to initiate discussions with the Russian side regarding the development of a joint oil field.
However, Paknejad did not disclose the name of the specific joint oil field under consideration for development.
He expressed confidence that these discussions would soon reach a successful conclusion, paving the way for the commencement of operations.
The Iranian minister also conveyed optimism regarding the continued expansion of cooperation between Iran and Russia in the development of oil and gas fields.
Currently, Russian companies contribute to approximately 6% of Iran's crude oil production, with expectations for this share to rise to 12% in the near future.
Seven oil fields in Iran are being developed through four agreements signed between Iranian and Russian companies.