On the eve of the 10th meeting of the Joint Ministerial Monitoring Committee of the OPEC + countries, the Minister of Energy of the Russian Federation Alexander Novak met with the Minister of Energy, Industry and Mineral Resources of the Kingdom of Saudi Arabia Khalid Al-Falih.
During the conversation, Alexander Novak noted the intensity of bilateral contacts with his Saudi counterpart: the ministers have met for the ninth time in a year.
"Thanks to our work with you, primarily in the line of OPEC +, relations between our countries have significantly strengthened. We see the ever growing interest of Russian companies in forging closer ties with Saudi partners. This is especially important in the light of the responsible role that our countries play in the regional and international arena, especially in the energy sector," the head of the energy department said.
According to the Russian Minister, OPEC + participants need to think about the development of further cooperation mechanisms.
"Russia is interested in the fact that the Joint Ministerial Monitoring Committee, which has proved its effectiveness, continued its work. We are ready to discuss the expansion of its functionality in the part of exchanging information on the state of the oil markets. In addition, on its basis it is possible to implement large-scale projects in the industry with participation of companies from the countries participating in OPEC + cooperation. Joint projects will help to exchange experience and technologies, and also will allow to quickly attract financial resources," Alexander Novak said.