Iran-Russia Oil Accords Possible by Yearend

Final agreements on work of Russian oil companies in Iran may be reached during a meeting of the intergovernmental commission in Tehran due December 13, speaker of Russia's Federation Council Valentina Matviyenko said. "The Iranian side expects more active involvement in the Iranian market from oil and gas companies and other organizations," especially on the back of the contract worth $5 billion, signed by Total, Matviyenko was quoted as saying by TASS. "The Iranian side expects our oil and gas companies to bring investments in development of the fields," she added.  "Russian companies have demonstrated big interest to work in Iran, and the Iranians hope certain agreements would be concluded during the upcoming meeting of the intergovernmental commission, planned for December 13." Matviyenko stressed that Iran will notify Russian companies about the easier variant of agreements to participate in the development of oil and gas fields.