Total, Lukoil negotiating to buy Iranian oil
Baku, Azerbaijan, Oct. 25
By Fatih Karimov - Trend:
French and Russian giant energy companies, Total and Lukoil, are negotiating to buy Iranian oil.
Director of international affairs at National Iranian Oil Company, Mohsen Qamsari said new rounds of talks have been started with the two companies for selling oil after sanctions are lifted against the Islamic Republic, Iran's Mehr news agency reported on October 25.
Preliminary agreements have been made with the two international oil companies, Qamsari added.
In September, Amir-Hossein Zamaninia, the Iranian deputy oil minister for international and commercial affairs, said Lukoil is prepared to sign a memorandum of understanding (MOU) with Iran.
"The Russian company has announced readiness for participation in enhanced oil recovery plans of Iranian oilfields," Zamaninia said.
Meanwhile, Total said October 19 that it is ready to provide the loans required for the development of Iran's oil sector projects once the sanctions against the country are lifted.
Stephane Michel, the president of Total's Middle East-North Africa, told an energy forum in Tehran that Total is also ready to transfer the oil industry technology to Iranian companies.