Iran, Brazil Discuss Cooperation on Refinery Construction

During a meeting in the Brazilian capital on Friday, Saqqaeian and the Coelho Filho underlined the need for mutual cooperation on the refinery to be built in Maranhao in Northeastern Brazil.

Saqqaeian described cooperation on the project as an opportunity for Iran and Brazil to deepen their bilateral economic relations.

The two sides also reviewed ways of cooperation between the two countries in energy and mines.

Other areas of cooperation, including Brazil's participation in deep-sea oil extraction, manufacturing oil equipment, and mining projects were also negotiated during the meeting.

In relevant remarks in October 2016, Oil Minister Bijan Zangeneh said Iran is interested to develop its relations with Brazil and is also ready for cooperation with the Latin American country in various fields of energy, including LNG and deep-water drilling.

“Both countries are oil-rich and Brazil has valuable experience in deep-water oil production,” he said at a meeting with the visiting Brazilian Minister of Development, Industry and Foreign Trade Armando Monteiro.

“Iran needs Brazil’s experience in deep water drilling in order to use them for producing oil in the Caspian Sea,” the Iranian minister added.