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BREAKING
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted

Gazprom invests $40 bln in Iran oil sector

  • By Al Mayadeen English
  • Source: Al Mayadeen + Agencies
  • 19 Jul 2022 13:52
  • 2 Shares
2 Min Read

Russia's Gazprom makes the biggest foreign investment in the Iranian economy.

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  • The Russian gas giant Gazprom (AFP)
    The Russian gas giant Gazprom (AFP)

The National Iranian Oil Company signed Tuesday with Russian Gazprom a memorandum of understanding in the energy sector that includes Moscow investing $40 billion in developing the Kish gas field and the northern Fars oil field, increasing the production of the lower Fars gas field, and developing six Iranian oil fields.

The Iranian and Russian firms signed the biggest foreign investment deal in the Iranian economy, the Islamic Republic News Agency (IRNA) reported.

The Russians currently invest more than $4 billion in the Iranian oil industry, which is expected to see a ten-fold increase.

Related News

Tensions ease in Sweida as all detainees released amid mediation

Fierce clashes breakout in Syria's Sweida, leading to displacement

Russian President Vladimir Putin's spokesperson, Dmitry Peskov, revealed Monday that Russia handed Iran a draft agreement about comprehensive strategic joint cooperation between the two countries.

Putin is set to land in Iran today for talks with Iranian President Ebrahim Raisi and his Turkish counterpart Recep Tayyip Erdogan for a meeting on the Astana peace process.

Moscow, Tehran, and Ankara have been engaged in the Astana peace process for years now, a forum meant to bring to a close the war on Syria that has been raging on for more than 11 years.

Iranian-Russian relations and partnership have taken to new heights recently, especially in light of reciprocal visits, the signing of several agreements, and Tehran and Moscow seeing eye to eye on various issues.

Kremlin aide Yury Ushakov said Monday that "Iran is an important partner of Russia. Relations are of a friendly nature, have a long history, and are developing very effectively in the widest range of areas. Both sides have plans to bring bilateral cooperation to a new level - the level of strategic partnership. A new interstate agreement is being prepared."

  • Syria
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