Describing the latest status of negotiations with Malaysia’s Petronas and Austria’s OMV oil companies, managing director of ICOFC announced several Russian firms’ willingness to invest in Iran’s central oil fields. According to ICOFC Public Relations, Salbali Karimi was quoted by Mehr News Agency as saying that On the launch of cooperation between Iranian Central Oil Fields Company (ICOFC) and Malaysia’s Petronas we have taken Petronas oil company as our 2025 model for upgrading Iranian oil systems since oil industry needs to continuously seek progress.” Referring to the main advantages of cooperation between the two countries, Karimi asserted, “Petronas is a Muslim Asian company sharing extensive cultural and religious similarities with Iran.” Managing director of ICOFC further stressed the regional commonalities between Iran and Malaysia; “furthermore, increasing gas production has been put on the agenda by both sides,” he underlined. “ICOFC aims to gain more efficiency by considering Petronas as a rolemodel,” said the official adding that “accordingly, we feel the need to improve structures in order to achieve improved efficiency.” Karimi noted that Petronas is supposed to offer trainings in several areas on the basis of the contract noting “so far, preliminary talks have been conducted and the Malaysian side has expressed willingness to finalize the mutual agreement by removal of sanctions.” Referring to the negotiation with Austria’s OMV oil company on expanding Cheshmeh Khosh oil field, he explained “the Austrian company has announced readiness in this regard and the first stages of talks have been accomplished.” Karimi noted the upcoming technical meeting with the Austrian side to discuss the costs and benefits of the project; “so far, numerous negotiations have been made with foreign companies especially from China, Russia as well as Europe over development of oil and gas fields." “Nevertheless, no final decision will be made before the finalization and introduction of Iranian Petroleum Contracts (IPC),” he concluded.