Iran to export $450 mm of oil equipment, services to Turkmenistan

Sep 01, 2015 12:00 AM

Iran has signed contracts worth $450 million to export oil equipment and engineering services to Turkmenistan.

National Iranian Oil Company (NIOC) managing director Roknoddin Javadi said by the end of the current Iranian calendar year (March 20, 2016), contracts worth more than $1 billion will be signed, Iran’s Mehr news agency reported on August 31.

He emphasized the importance of expanding oil and gas engineering services in the neighboring countries.

Elsewhere in his remarks, Javadi said that NIOC opened its office in Iraq last week.

Iran’s Deputy Oil Minister for International Affairs Amir-Hossein Zamaniniya said on July 27 that Iran has agreed to provide goods and services in exchange for the gas it receives from Turkmenistan.

“Turkmenistan is a reliable trade partner of Iran and there is good reason to hope that it will remain so in the future,” he noted. “Iran is ready to export products and engineering services to Turkmenistan and sign a contract worth about $1 billion with this country.”

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