New MoU to Facilitate Iran-Russia Shared Use of Oil. Gas Equipment

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Tehran and Moscow signed a 27-paragraph MoU after the third meeting of the Iran-Russia Energy Working Group in Tehran on Monday.

The document was signed by Deputy Iranian Petroleum Minister for International Affairs and Trading Amir Hossein Zamaninia and Deputy Minister of Energy of Russia Anatoly Yanovsky.

`Cooperation in area of discovery. extraction. production and investment in the oil. gas and petrochemical industry was emphasized in the MoU.` General Director for Europe. America and Caspian Sea Neighboring Countries in Iran`s Oil Ministry Hossein Esmayeeli Shahmirzadi said.

He described homogenization of standards for Iran and Russia`s oil industries as one of the paragraphs of the agreement. saying. `Once this paragraph. which has been added to the MoU for the first time. will be implemented. the two sides can use each others` oil and gas industry equipment.`

The third meeting of the Iran-Russia Energy Working Group was held on the sidelines of the 15th Meeting of the Joint Commission on Trade and Economic Cooperation of the two countries.

The first meeting of the energy working group was in Tehran. Iran. and the second one was in Saint Petersburg. Russia.