Ukraine's and Russian companies eye development of Iran's oil fields
Azerbaijan, Baku, August 21 /Trend/
Iran is negotiating with Ukrainian company to develop heavy oil fields while a Russian company offered cooperation in development of Zagheh heavy oil field, IRNA reported quoting executive of heavy oil fields development at the Petroleum Engineering and Development Company Bahman Samimi Sadeh as saying.
"The Petroleum Engineering and Development Company had negotiated with a Ukrainian company to develop Koohe Mond, Kagi and Boushegan heavy oilfields," he said.
He noted the Petroleum Engineering and Development Company is reviewing SIAPA investment offer in developing Ferdowsi oil field alongside other offers from Malaysia's PETRONAS and Petropars Iran.
Most of foreign giant oil and gas companies have halted their activities in Iran because of international sanctions imposed by UN Security Council and the West countries against Iran.
Iran has OPEC's second-highest oil output, and ranks second in the world in terms of natural gas reserves after Russia.