Iran, Nigeria sign agreement to deepen energy cooperation

Iran and Nigeria have signed an agreement to expand their relations in various oil and gas projects.

This agreement was signed on during the weekend in Tehran between both countries Oil Ministers, Javad Owji of Iran and Nigerian Minister of State for Petroleum Resources Timipre Sylva.

Owji told reporters after signing the agreement that Iran will help Nigeria expand its oil and gas sector while offering construction and maintenance services for refineries in the African country.

He said Iranian companies will also become active in Nigeria to help the country expand its use of compressed natural gas (CNG) mainly for transportation purposes.

The oil Minister said that Iran will in return seek to use the expertise existing in Nigeria’s petroleum sector to expand its liquefied natural gas (LNG) sector.

Iran has sought to find new markets for its oil and gas engineering services since the country’s petroleum sector came under American sanctions in 2018.

Iranian companies have been awarded contracts to build and refurbish oil refineries in several South American countries.

Nigeria is Africa’s largest oil producer and the sixth largest exporter of LNG in the world.