Iran, Nigeria ink oil & gas, petrochemicals MoU for energy expansion, tech transfer

*Iranian Minister for Petroleum Javad Owji discloses the bilateral cooperation agreement covers exchange of technical and engineering services and expansion of energy cooperation with the West African country

Gbenga Kayode | ConsumerConnect

Iran and Nigeria have signed a Memorandum of Understanding (MoU) to strengthen cooperation on energy.

ConsumerConnect gathered agreement is meant to expand cooperation in different oil, gas, and petrochemical areas of the industry in the two countries.

Speaking on the sidelines of the signing ceremony Saturday, August 27, 2022, Iranian Minister for Petroleum Javad Owji said that the document was signed after a good meeting with his Nigerian counterpart in Tehran, Iran earlier Saturday, and another meeting of the two Ministers, which took place during a GECF Summit, IRNA report noted.

The Minister, at the beginning of the meeting, had expressed condolences to the Nigerian Government over the death of Mohammed Sanusi Barkindo, immediate past Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), praising his lasting services .

Owji also disclosed that the cooperation 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 hybridisation of vehicles and make use of the country’s capacities in the LNG area in return, said the Iranian Minister.

He also noted that the agreement also includes renovation of Nigerian refineries by Iranian companies.