Javad Owji made the comments on Wednesday upon his arrival in Moscow for participating in the Russian Energy Week.
Owji, who has been invited to visit Russia at the official invitation of Russia’s Deputy Prime Minister Alexander Novak, said that officials of the two countries are negotiating other bilateral and multilateral deals to enhance cooperation in these fields.
Iran and Russia have rich hydrocarbon reserves, the oil minister said, adding that the two countries have high capacities to broaden their cooperation in the oil and gas industry.
Good contracts and memoranda of understanding (MoUs) have been signed with the Russian companies working in the downstream and upstream sectors, he continued.
Following up on the MoUs, contracts and projects with the Russian companies and taking advantage of the capacity of Russian Energy Week for advancing investment programs in the oil and gas industries are among the main aims of the visit, Owji stated.