TEHRAN (PIN) -- First vice-premier of Belarus Vladimir Semashko arrived in Iran yesterday heading a delegation to discuss cooperation in oil industry between Tehran and Minsk.

Semashko, who is laying grounds for next week’s trip by Belarusian president to Iran, declared his country’s readiness to invest in Iran’s oil industry during his meeting with the Iranian Minister of Petroleum Seyyed Kazem Vaziri-Hamaneh.

Following the meeting, the minister of petroleum told Petroenergy Information Network that the two sides have discussed grounds for cooperation in exploration, development and production projects.

Hamaneh added that the two countries are to sign a memorandum of understanding at the end of negotiations.

“Based on negotiations, the two countries will cooperate in all activities related to the Iranian oil fields. Belarus is also to invest in Iran’s oil industry and its experts will work on our oil fields,” he added. The minister said no certain oil field has, thus far, been marked for cooperation with Belarus, adding, “The Belarusian side is not willing to take part in developing Iranian gas fields including South Pars.”

He stated that the two countries are to sign an agreement on cooperation in oil sector and it will be signed during next week’s trip to Iran by Belarusian president.

Managing director of National Iranian Oil Company, Gholamhossein Nozari, also noted that Iran has offered oil fields for cooperation with Belarus and more cooperation grounds will be explored in upcoming negotiations.