Iran, Ecuador to Boost Oil Cooperation

A0504642.jpgTEHRAN (FNA)- Iranian Oil Minister Gholam Hossein Nozari and Ecuadorian Minister of Mines and Petroleum Galo Chiriboga Zambarno signed a deal on cooperation in oil industry on Saturday evening.

Iran is ready to exchange its valuable oil and gas experiences with Ecuador to help solve the existing problems in the Latin American country, Nozari said during the ceremony in which the deal was signed.

Iran will also help Ecuador train oil industry staff in the upstream sector such as oil production and exploitation and in the downstream such as construction and repairing refineries and petrochemical units, he added.

Iran’s crude production stands at 4.3 million barrels a day and its natural gas production is over 500 million cubic meter a day, Nozari said.

Zambarno expressed satisfaction with his current visit to Tehran and Tehran’s refinery, which he considered as one of the world’s largest ones.

He called for exchange of experiences in the areas of oil and gas between the two countries.

Iran and Ecuador, members of the Organization of the Petroleum Exporting Countries (OPEC), are to further bolster their economic ties through establishing a joint company, he added.

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