Russia’s Lukoil eyes contributing to Iranian energy projects

September 25, 2017 - 9:36

TEHRAN - Lukoil Chief Executive Vagit Alekperov said he would meet Iranian Oil Minister Bijan Namdar Zanganeh in Moscow on October 3 to discuss cooperating with Iran in energy projects.

Lukoil has been in talks with the National Iranian Oil Company (NIOC) on taking part in development of the Ab-Teymur and Mansuri fields in central-western Iran, Reuters reported.

“We are very close, we have some disagreements which are not crucial, regarding output volumes and the pace of coming to any given levels,” Alekperov said at the launch of the firm’s gas facilities in Uzbekistan.

“I am confident that the differences could be resolved, he added. 

Tehran has said earlier it expected to sign deals in the next five to six months with Russian firms, such as Lukoil, on developing of Iranian oil and gas resources.

Lukoil plans to keep pumping 100 million tons of oil per year between 2018 and 2027 with projects outside Russia and will keep annual investment at $8 billion-$8.5 billion, the chief executive said on Saturday.

Russia’s No.2 oil producer which has suffered from sluggish output from its Western Siberia fields, has kept production steady by focusing on growth in new regions, such as the Caspian Sea and Iraq. It is also looking at Iran and Mexico.

Alekperov announced details of company’s 2018-2027 strategy to reporters He said details would be discussed by the board in December.


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