Iran in talks with Lukoil over oil-related co-op

Business Materials 19 September 2016 17:22 (UTC +04:00)

Baku, Azerbaijan, Sep.19

By Emil Ilgar – Trend:

Russian Lukoil company and Iran are in talks for possible cooperation, Shana news agency reported.

Iran’s Oil Minister Bijan Namdar Zanganeh held talks with Lukoil CEO Vagit Alekperov for ways to cooperate in the oil industry.

Lukoil has discovered Anaran oil block with 500 to 600 billion barrels of reserves, in Iran, which consists of several fields, including Changouleh and Azer.

Before, visiting Tehran, Alekperov said that the company is willing to cooperate with Iran regarding the offshore fields in the Persian Gulf and Caspian Sea.

The head of National Iranian Oil Company, Ali Kardor also met with Alekperov in Tehran.

“Kardor asked Lukoil to provide Iran with results of studies on Mansouri and Ab-Teymour fields, that the company has conducted so far,” Shana reported.

The sides have signed a confidentiality agreement over the mentioned fields.

Both fields are among 49 fields which Iran proposed to foreigners based on new designed contract, called Iran Petroleum Contract or IPC.