TEHRAN – Iran and Nigeria inked a document on Saturday to expand cooperation in different oil, gas, and petrochemical areas.
Speaking on the sidelines of the signing ceremony, Iranian Minister of Petroleum Javad Owji said that the document was signed after a good meeting with his Nigerian counterpart in Tehran earlier in the day and another meeting of the two minister which had took place during a GECF Summit.
He said that the agreement included cooperation on exchange of technical and engineering services and expansion of energy cooperation as well.
Under the terms of the agreement, Iran will provide Nigeria with the necessary know-how for hybridization of vehicles and make use of the country’s capacities in the LNG area in return, the minister said.
The agreement also includes renovation of Nigerian refineries by Iranian companies, Owji added.
Owji underlined signing of a memorandum of understanding between the two country for cooperation in various fields, including the export of technical and engineering services and petrochemical products (urea).
He added, “In the meeting, according to the previous constructive meetings with the Nigerian side, a favorable memorandum of understanding for cooperation was signed between Iranian companies and Nigeria in various fields of energy, including the export of technical and engineering services to this African country, fueling gasoline cars using the capabilities of Iranian companies, using the capabilities of Nigerian side for production of liquefied natural gas (LNG) and the development of Nigerian oil and gas fields.”
Pointing out that the reconstruction and modernization of Nigeria’s oil and gas refineries was one of the other highlights of today’s memorandum, Owji clarified: “Considering Nigeria’s high capacities in the field of crude oil export and LNG production plants and the export of this energy carrier, we can establish long-term cooperation between the two countries.”