Deputy Minister: Iran, Japan to Boost Joint Ventures in Oil Sector

And Iranian deputy oil minister underlined the Japanese firms’ interest in partnership with Iran in upstream projects, and said Tehran and Tokyo intend to make joint investments in the oil sector.
“Based on plans, the relations between Iran and Japan in the oil industry and the investment of Japanese firms will be improved in the upstream side,” Deputy Oil Minister for International and Commercial Affairs Ali Majedi said, addressing oil industry activists in Khark Island on Saturday.

“At present, the Japanese are interested in active partnership and investment in the upstream sector, specially development of oil fields, and we hope that this will be materialized through current efforts,” he added.

Majedi said that development of relations with Japan in the oil sector is on Tehran’s agenda due to the Japanese companies’ enthusiasm for cooperation in mega projects in Iran.

Diplomatic relations between Iran and Japan were formally established in 1926 and throughout history, the two countries have maintained a friendly and strongly cooperation in various arenas.

The two countries’ officials have held talks in different economic, trade, political and cultural fields in recent years to explore new ways of expanding bilateral ties.

Iran is one of the main oil suppliers to Japan.