Tehran, Moscow Sign Agreement on Geological Exploration

Russia and Iran have signed an agreement on long-term cooperation in the field of geological exploration.

Roman Panov, the general director and CEO of the Russian State Geological Company (Rosgeo), and Houshang Falahatian, the Iranian deputy energy minister, signed the agreement at the 12th Iran-Russia Joint Economic Committee Meeting.

Russia's Rosgeo plans to work in different areas in Iran and is considering gas, oil, gold and ore projects, Panov told TASS in an interview on November 10th.

"Geophysical exploration of gas fields in the South Caspian region and services of drilling technologies and enhanced oil recovery are considered in respect of hydrocarbons," he said. "We are viewing proposals on aerial geophysical studies of promising areas and prospecting of hard-rock gold and lead and zinc ore in terms of solid mineral resources. We will also probably deal with research related to enhance gold recovery from refractory ore and assessment of salt deposits’ reserves."

Panov added that RosGeo is also interested in geophysical exploration of gas fields in the South Caspian region and services of drilling technologies and enhanced oil recovery in respect of hydrocarbons.

RosGeo is made up of 38 enterprises located in 30 regions across Russia. It is the largest exploration company in the country in terms of its geographic footprint.