The Memorandum of Understanding of the 14th Commission for Trade and Economic Cooperation of the Islamic Republic of Iran and the Russian Federation in the Oil and Gas Industries was set up in 38 articles.
In the memorandum, the parties, while supporting the talks and agreements reached between the relevant ministries of the two countries, emphasized the strategic cooperation of Iran and Russia in the field of energy.
Some of the areas emphasized in the document include: Willingness of cooperating constructively and effectively with each other in international energy arenas, strengthening and development of technological and research relations between the two ministries and public and private companies in the two countries, and participation of companies from the two countries in joint projects in upstream, midstream and downstream sectors.
Iran and Russia also stressed development of cooperation between the National Iranian Oil Company and Russian active companies, in particular Zarubezhneft, Gazprom Neft, Tatneft, and Lukoil for developing oil and gas industries.
The acceleration of cooperation between the National Iranian Gas Company and Gazprom Neft Company was another focus of the meeting, and Iran and Russia supported cooperation in the field of oil and gas swap and shipment to the export markets.