Russia's state oil company Zarubezhneft has been negotiating with Iran
for a joint exploration project in the Caspian Sea.
Zarubezhneft, which
worked in Iran in the 1990s, has sought to begin any project with a contract
for exploration in the disputed Caspian.
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"We are interested in the southern part of the Caspian Sea,"
Zarubezhneft chief executive officer Nikolai Brunich said. "If we manage to
sign a geological exploration contract, it will be positive."
On July 14, Brunich said Zarubezhneft sought to work with a Russian
partner as well as Iran's state oil company. He said the composition of such
a partnership was being discussed.
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