Baku, Azerbaijan, Oct. 4
By Fatih Karimov– Trend:
The National Iranian Oil Company (NIOC) and Russia's leading oil company, Lukoil signed two memorandums of understanding for cooperation in the area of geological evaluation in Caspian Sea.
The documents were signed in Moscow on Oct. 3 on the sidelines of a meeting between Iran’s oil minister, Bijan Namdar Zanganeh and head of Lukoil, Vagit Alekperov, Iran’s oil ministry reported.
The documents were signed following months of negotiations for cooperation in geological explorations in Southern parts of Caspian Sea.
Lukoil also signed a MoU with Khazar Exploration and Production Company (KEPCO), according to the report.
KEPCO, a subdivision of National Iranian Oil Company (NIOC), is an authority in exploration, development and production of oil and gas in Iran concerning South Caspian Sea and three littoral provinces of Mazandaran, Golestan and Gilan in Iran.
Iran has also negotiated with Russian, Chinese and Norwegian companies during the last months on development of Caspian Sea oil and gas projects.
Iran has offered four projects in the Caspian Sea – blocks 24, 26 and 29 as well as Sardar-e Jangal oil field – to foreigners for exploration and development.
Mohsen Delaviz, the head of KEPCO, said in May that Norwegian firms will help Iran in Caspian Sea offshore drilling and exploration projects. He didn’t mention any names.