|Lukoil in investment talks with Iran: Russian envoy||
Russian Ambassador to Tehran Levan Dzhagaryan says the country’s oil giant, Lukoil, has started negotiations with National Iranian Oil Company (NIOC) to explore and develop oil and gas fields in the Caspian Sea.
The ambassador said on Saturday that Lukoil, which is Russia’s second largest oil producer, has expressed desire to return to Iran’s energy market in light of sanctions being eased against the country.
Along with the Norwegian Statoil, Lukoil was prospecting for oil in Iran’s Anaran block before it pulled out of the project due to the imposition of illegal sanctions on the country’s energy sector by the United States and the European Union.
Lukoil reportedly suffered a USD 63-million loss after its withdrawal.
On January 20, the Council of the European Union suspended part of the sanctions it had imposed against Iran following the nuclear deal between Tehran and the six world powers - the United States, Britain, France, China, Russia and Germany - in Geneva, Switzerland, in November 2013.
The new measure incorporates the suspension of a 2012 ban on insuring and transporting Iran crude oil and the sanctions on trade in gold, precious metals and petrochemical products.
On January 25, the Iranian oil minister said major world oil companies have voiced readiness to start business in the country.
France’s Total and Italy’s Eni have also expressed their willingness to resume work in Iran.
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