Tehran, Russia’s Rosneft discuss on upstream, downstream projects

MOSCOW, Oct 25 (PRIME) -- Iran and Russian state-owned oil major Rosneft have reached understanding on several upstream and downstream projects, although negotiations continue, Iranian ambassador Mehdi Sanai told PRIME Tuesday.

“Rosneft is cooperating directly with the Petroleum Ministry (of Iran) and the Execution of Imam Khomeini's Order. This is a large economic structure. The execution has different projects, Rosneft may take part in them and invest in them. We have managed to reach a good understanding between Rosneft and the economic structure, and they will cooperate,” Sanai said.

Iran has different projects to offer to Rosneft, including in upstream and downstream, he added.

Tehran is also holding talks with Moscow on cooperation in restriction of oil production, and Iran sees the cooperation as very important. But Iran will increase its production to the pre-sanction levels and only then discuss any production freezes, he said.

He also said that the next meeting of the Russian–Iranian commission will be held on December 5–7 in Tehran.

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