Hamid Bord, head of Iran's Ministry of Oil, has traveled to Moscow to participate in the 28th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) and accompany Masoud Pezeshkian, the President. During this trip, Bord met with Abdoulaye Diouf, Minister of Oil and Energy of Senegal, and discussed bilateral cooperation in the energy sector.
Iran's experience in developing oil and gas fields
In this meeting, Bord referred to Iran's high experience in developing oil and gas fields and constructing oil and gas refineries. He stated that Iranian engineers and specialists have extensive experience working in difficult conditions, and approximately 70 to 80 percent of the equipment needed for refinery construction and upstream activities in the oil and gas sector is produced by Iranian manufacturers.
Read more: Masoud Pezeshkian's presence at the GECF meeting in Moscow
Senegal's readiness for cooperation
The Minister of Oil and Energy of Senegal welcomed bilateral cooperation with Iran, emphasizing that the purpose of the meeting with the head of Iran's Ministry of Oil was to express Senegal's readiness to begin cooperation in the fields of oil, gas, and energy. This meeting reflects the willingness of both countries to expand economic and energy relations.
The 28th Ministerial Meeting of the Gas Exporting Countries Forum was held today (Monday, October 25) in Moscow, one day before the 8th GECF Summit. The summits of the member countries of this forum are held every two years. The first meeting of this forum was held in 2011 in Doha, Qatar, and since then, various countries such as Moscow, Tehran, and Algiers have hosted these meetings.
Currently, this forum has 12 main members including Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates, and Venezuela. Observer countries including Angola, Azerbaijan, Iraq, Malaysia, Mauritania, Mozambique, Peru, and Senegal have also joined this forum.
According to announced statistics, the member countries of this forum hold about 70 percent of the world's proven natural gas reserves, 38 percent of commercial gas production, and 42 percent of the world's gas exports. Additionally, the share of these countries in liquefied natural gas exports is estimated to be around 47 percent.
Read more: Hamid Bord's visit to the Zarubezhneft monitoring center in Moscow · America has turned to its strategic oil reserves
