Speaking on the sidelines of the P4 Expo India 2016 in New Delhi on Tuesday, Ansari said Indian corporations should take the existing opportunities that have been created after removal of sanctions for greater cooperation with Tehran.
“Iran and India have long-lasting relations in upstream and downstream sectors,” he noted, adding that there is still room for improvement of ties.
Our economies are complementary, said the ambassador while referring to Iran as one of the biggest oil producers in the world, and India as one of the world's biggest energy consumers.
This comes as Indian Oil Minister Dharmendra Pradhan is scheduled to visit Tehran next week to discuss the development of Farzad B gas field in the Persian Gulf.
Indian media reports said New Delhi is likely to discuss the possibility of Iran keeping crude at caverns in South India during Oil Minister Pradhan's visit.
Pradhan's visit is the first by an Indian minister since the West lifted sanctions. The minister said last month India had stood by Iran during the sanctions.
New Delhi is also looking at multiple trade and investment opportunities with Tehran as it is keen to invest in ports and petrochemical plants.