Baku, Azerbaijan, Feb. 1
By Fatih Karimov - Trend:
The Russian Lukoil company can participate in development project of Changouleh oil field, Abdolreza Haji-Hosseinnejad, the managing director of Petroleum Engineering Development Company (PEDEC) said.
If the Russian company wants it can submit a formal proposal to the National Iranian Oil Company (NIOC) to take part in the development of the Changuleh oil fields, Haji-Hosseinnejad said, Mehr news agency reported Feb. 1.
A consortium of Lukoil and Norway's Statoil in Iran led to discovery of oil in Azar and Changuleh fields in 2005. The two companies pulled out of the country in 2011 once US and EU tightened Iran sanctions over the country's nuclear program.
Haji-Hosseinnejad further said that return of Lukoil to Azar oilfield development project is ruled out.
The NIOC has signed agreement with Iranian companies to develop Azar oil field, so there is no need for Lukoil or any other foreign companies for the field's development, he said.
Earlier Roknoddin Javadi, the managing director of the NIOC said that the Russian company as well as other foreign companies will need to participate in the next phases of the oilfield's development.
In December 2015, Lukoil President Vagit Alekperov was quoted by the media as saying that he had discussed the prospects for the company to return to Iran to develop Azar oil field.
Iran has recently signed a $6 million deal with Lukoil over two exploration projects in the country's southwestern oil-rich Khouzestan province.
According to Hormoz Qalavand, the director for exploration affairs of the NIOC, Lukoil is to look for hydrocarbon reserves in Dasht-e Abadan and the northern parts of the Persian Gulf.
The Russian company has already started the work over the projects, he said, adding it will also take care of all the costs in both projects, the official added.