Russia and Iran to cooperate in retooling of Iranian oil and gas complex

Jul 03, 2001 02:00 AM

Russia and Iran have signed an agreement on cooperation in the retooling of the Iranian oil and gas complex. It said the agreement was signed between the Russian Union of Producers of Oil and Gas Equipment, which represented Russia at the talks together with the Stankoimport state enterprise and the Association of Producers of Equipment for the Oil and Gas Industry of Iran, which was created with the participation of the state for the purpose of modernizing the Iranian raw materials producing industry.
"Under the agreement, Russian industrial enterprises will take part in the retooling of Iranian plants turning out equipment for the oil industry and in organizing at them the production of competitive equipment, acting as partners in joint ventures," it was stated.
A proposal was formulated on the results of the talks to create a working group for the retooling of the Iranian oil and gas complex under the Russian-Iranian intergovernmental commission.

Source: Asia Pulse
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