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Iran and Russia signed several agreements to promote cooperation over energy issues during President Putin’s visit.

North Drilling Company specializes in drilling oil and gas wells in the Persian Gulf. Caspian Sea. Turkmenistan and the Iranian provinces of Khuzestan. Ilam and Bushehr.

Total is awaiting a US Congress decision on whether the Iran nuclear agreement is in line with the American interests. Pouyanne said last month.

According to Interfax'.s calculations. based on Gazprom’s data. the amount of the loss was $157.8 million.

The massive size of the agreements is a very important data point for western oil and gas firms. which have been jockeying for a position in Iran’s high-potential petroleum sector.

Oil giant Rosneft has also planned to venture into LNG. and signed in May 2014 a preliminary deal with ExxonMobil to cooperate on the Far East LNG project.

The project. which has a minimum life expectancy of 50 years. has already had one of its EIA reports while other studies on its environmental and safety impacts still continue.

The parties have agreed upon the main principles of Rosneft’s participation in projects in the Islamic Republic of Iran and approved the path forward plan.

Putin has called on Azerbaijan. Iran to coordinate efforts with Russia in energy sector Share.

The parties will begin work on the project next year. after they will have signed all the legal paperwork later this year. according Novak.