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News // Russia

Kirill Molodtsov: Russian firms highly potent to develop Iran oil fields

12 December 2016 , 18:03Neftegaz.RU575

Russian Deputy Minister of Energy Kirill Molodtsov said on December 12, 2016, that Russian companies enjoy huge potentialities for developing Iranian oilfields.

 

Addressing the Iran-Russia Energy Committee Meeting on December 12, Kirill Molodtsov said the companies attending the meeting account for 93% of Russia's total crude oil output, saying the same companies can develop oil projects in Iran, too.

He expressed astonishment at the meeting's high reception, saying potentialities of Iranian-Russian companies' cooperation are to be assessed in the meeting.

He said representatives of leading Russian oil companies are present in the meeting, adding Russian services and marketing companies are also represented in the commission.

 

Also Deputy Minister of Petroleum for International Affairs and Trading Amir-Hossein Zamaninia said in the meeting that Iran-Russia economic and diplomatic relations are not balanced, so their economic relations need to expand. He noted that Iran-Russia energy committee session seem to be more vibrant than the Iran-Russia joint committee and highly affected by the atmosphere of the session.

Also referring to recent OPEC and non-OPEC session, Zamaninia said prior to the meeting, the 2 countries' investment capacity was something about eight billion dollars but after that the figure can reach 10 billion dollars.
Zamaninia said the Brent crude price after the November 30 OPEC accord and also after the December 10 OPEC-non-OPEC agreement reached more than 56 dollars from 46 dollars. «Oil price increase can be a good news for the oil companies.»

 

The 13 OPEC states had in their November 2016 session agreed to cut output by 1.2 million to bring about equilibrium in the market and push up prices. Also the December 10 meeting of the OPEC and non-OPEC states agreed that along with other non-OPEC states, Russia will cut its production by 560,000 to 600,000 barrels. Russia's share in the bulk has been specified at 300,000 barrels per day.

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