Russian energy giant Gazprom signs deal to develop major Iran oil fields
NICOSIA — Iran and Russia have signed a energy development
deal involving onshore and offshare oil and gas fields.
The National Iranian Oil Co. and Russia's Gazprom have signed an
agreement to develop Iran's crude oil and natural gas fields, particularly
Azadegan, the largest onshore oil field in the country with estimated
reserves of 42 billion barrels, Middle East Newsline reported.
The deal, signed on July 13 in wake of the
withdrawal by France's Total, was meant to pave the way for Russia to become
a leading foreign contractor in Iran's energy sector.
"Based on the accord, working groups would be formed and a joint company
would be set up between the two countries for cooperation in the oil and gas
fields," an Iranian statement said.
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Officials said the agreement envisioned the increase in recovery rates
from Iran's oil fields as well as Russian aid to deliver oil from the
Caspian Sea to the Sea of Oman. They said Russia could also participate in a
gas pipeline from Iran to India.
Iran has also reported the discovery of an oil field in the Khuzestan
province near Iraq. Iranian Oil Minister Gholam Hossein Nozari said the
field, located north of Andimeshk, contained an estimated 1.1 billion
barrels of oil.