Hans Jorg Schelling met Iranian Minister of Petroleum Bijan Zangeneh in Tehran on Sunday at the head of a high-profile economic delegation.
Also accompanying Mr. Schelling was Austrian Ambassador to Tehran Friedrich Stift.
Enhancing banking relations between Tehran and Vienna, and cooperation of Austria's oil giant OMV and the National Iranian Oil Company (NIOC) in oil projects were the meeting's highlights.
Previously, Mr. Stift had voiced his country's willingness to join oil and gas projects in Iran, saying an Austrian bank will be launched in Iran soon.