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Lukoil in talks with Iran to return to major oil project

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Date: 4 December 2015 11:52

Head of Russia’s Lukoil company Vagit Alekperov and Iran’s Oil Minister Bijan Namdar Zanganeh have discussed the possibilities of returning the company to Iran’s Anaran oil project, RIA Novosti reported.

During the discussions held in Vienna, the Lukoil head also put forward some proposals.

Before Iran fell under sanctions, Lukoil was carrying out geological exploration work in Anaran block as part of the consortium with Statoil. Azar and Shangule oil fields were discovered as a result of this work. The companies were discussing the possibilities of developing these fields with Iranian authorities, but no contract was signed.

Lukoil withdrew from Anaran project in 2007 due to the international sanctions imposed on Iran.

After signing a nuclear deal between the P5+1 (US, UK, Russia, France, China and Germany) and Iran, Lukoil said it is still very interested in Iran’s oil and gas projects.

Edited by SI

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