فارسی افغانستان العربیة English Türkçe
Economy
2022-May-24  16:25

12 Cooperation Agreements Endorsed by Iran, Oman

TEHRAN (FNA)- Iran and Oman signed 12 documents during the Monday visit by Iranian President Seyed Ebrahim Rayeesi to Muscat in a bid to expand cooperation in economic, trade, transportation, tourism and political fields.

The 12 cooperation documents were inked by the Iranian ministers of Industry, Mine and Trade, Foreign Affairs, Road and Urban Development, and the head of the Trade Promotion Organization with their Omani counterparts.

President Rayeesi's trip to Muscat was considered the first visit by an Iranian president since the appointment of new Sultan in Oman, as well as his fifth foreign tour during his nine months in office.

Holding an official meeting in Al-Alam Palace, discussing ties with the Omani Sultan, signing documents, and holding talks with Iranian expatriates and Omani merchants were among President Rayeesi's plans in the one-day trip to the littoral state of the Persian Gulf.

An Iranian delegation of 50 tradesmen and economic operators traveled to Oman last week in order to pave the ground for development of economic and trade ties between the two friendly countries.

Iran and Oman also agreed to jointly work on Hengam gas field.

"As the first basis of my talks with Omani Oil Minister Mohammed bin Hamad al-Rumhi, it was agreed to form a joint technical committee to develop the next phases of the Hengam oil field in a seamless manner between Iran and Oman," said Iranian Oil Minister Javad Owji said who visited Oman ahead of President Rayeesi's Monday visit to the sultanate and agreed to revive a long-stalled project to lay an undersea pipeline to carry gas to Oman.

"Joint exploitation, in contrast to competitive exploitation, will be mutually beneficial to both countries as this method leads to less damage to the reservoir and allows for more extraction," he added.

Iran has its longest maritime border with Oman with which it has maintained the most sustained coexistence over the past five decades.

The two countries signed a memorandum of understanding in 2005 to jointly develop the Hengam oil field but the agreement did not materialize.

The project dates back to 2013 when the two countries signed a deal, valued at $60 billion over 25 years, for Iran to supply gas to Oman through an undersea pipeline. 

President Rayeesi took his “economic diplomacy” to Oman on his fifth foreign visit since taking office in August.