Iranian, Italian oil associations sign cooperation agreement

Chairman of the Iranian Association of Oil Equipment Manufacturers Reza Khayyamian said his association has signed a cooperation deal with Italian Association of the Oil Industry (ASSITOL).

Speaking to reporters on Tuesday, Kyayyamian said under the deal, the two sides agreed to work together to manufacture oil equipment in Iran.

According to the Iranian official, in light of the lifting of the sanctions under the nuclear deal between Tehran and the world powers, the association has also begun holding separate talks for cooperation with other international firms.

He said the negotiations are still ongoing with a number of oil giants in Asia and Europe.

In relevant remarks, Iranian Deputy Foreign Minister Majid Takht Ravanchi underlined the European states' enthusiasm for the further expansion of relations with his country, and said over one fourth of the agreements signed between Tehran and Rome have so far been implemented.

EA