Minister: Iran in oil swap talks with Russian company

EghtesadOnline: Minister of Petroleum Bijan Zangeneh says Russian Lukoil Company seeks oil swap deal with Iran and talks on the issue are underway.

News ID: ۷۳۸۶۶۳

17 December 2016

Zangeneh told IRNA that during recent visit of Russian Energy Minister Alexander Novak to Tehran, no talks had been held on the issue but Lukoil follows the project.

On gas swap, Zangehen said Russian Gazprom Company is also taking measures in connection with the gas swap.

The minister said during visit of the Russian delegation to Tehran, there were talks on certain oil fields and some memoranda of understanding (MoUs) were also signed in that connection.

Zangeneh added that Russian Rosneft Company is also seeking partnership and development of four oil fields, including South Azadegan field, through the Execution of Imam Khomeini's Order (EIKO).

During visit of Russian economic and oil delegation, headed by Novak, to Tehran last week, the MoU for studying two oil fields of Changuleh and Cheshem Khosh west of Iran were signed.

Under the MoU, Russians will launch study on as many as seven Iranian oil fields.

Hence, Russian Lukoil will be engaged in study on Mansoori and Ab Teymour, Russian Zarubezhneft will study Aban and Paydar Gharb and Tatneft will study the Dehloran , while Gazprom will study Changuleh and Cheshme Khosh fields.

Among two joint projects is oil swap deal which has not come to a result and based on initial talks, 150,000 barrels per day oil is to be swapped which eventually rises up to 500,000 barrels per day.