Iran and Norway sign MoU on oil and gas cooperation

Jun 29, 2004 02:00 AM

Iran and Norway signed a Memorandum of Understanding (MoU) setting the framework for a bilateral oil and gas cooperation between the two states.
Addressing the signing ceremony, Iranian Oil Minister Bijan Namdar Zanganeh said that the MoU is the second of its kind signed by the two countries over the past two-and-a-half years. The move, he added, shows progress in Tehran-Oslo bilateral cooperation.

Describing his talks with the visiting Norwegian Minister of Petroleum and Energy Enra Steensnaes as "fruitful and constructive," he urged Norwegian companies to avail of the ample opportunities for cooperation with the Iranian oil sector.
The Norwegian petroleum minister, for his part, pointed to the superior technology possessed by Norwegian companies, and expressed satisfaction with the signing of the MoU which he referred to as "very important." He also referred to the two countries' abundance of natural resources, and stressed the need to expand bilateral cooperation in the interest of both sides.

The Norwegian oil minister further lauded the accord as a factor that would strengthen the longstanding, friendly relations between the two countries.
Responding to a question on whether the US embargo may have any impact on other agreements that may be concluded between the two countries, he said that Oslo pursues a policy of cooperation with different countries and that his country believes it is in its interest to upgrade bilateral cooperation with the Islamic Republic.

Steensnaes arrived in Tehran accompanied by an economic delegation to discuss new avenues for Iran-Norway cooperation in the field of oil. The visit precedes a meeting of OPEC.
Norway, with a daily production of 3.3 mm bpd, is considered a major European producer of oil. It has always had a satisfactory cooperation with the OPEC although it is not a member of the organization. It is also one of the world's leading exporters of oil. Statoil, Norway's national oil corporation has been participating in Iran's oil and gas exploration and research projects in recent years.

Source: IRNA
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