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Russian oil firm targets Iran for expansion
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SPECIAL TO WORLD TRIBUNE.COM
Wednesday, July 6, 2005
MOSCOW — Russia's leading oil company wants to expand operations in
Iran.
Executives said LUKoil has targeted Iran as a leading market for oil
exploration. They said the company established an office in Teheran in
October 2004.
"We regard the Near East and the Persian Gulf as our company's zone of
heightened interest," LUKoil president Vladimir Simakov said, according to Middle East Newsline.
Simakov said LUKoil holds a 25 percent stake in the Anaran geological
prospecting project in Iran, operated by Norway's Hydra Co. He said the
Russian firm would negotiate with the state-owned Iranian National Oil Co.
in an effort to participate in on-and offshore tenders.
Copyright © 2005 East West
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