Tatneft signs agreement on developing oil deposit in Iran

October 9, 2016 TASS
Tatarstan producer Tatneft’s lawsuit upheld by international court in Paris. Source: Photoxpress
Russia’s Tatneft and National Iranian Oil Company signed an agreement on Oct. 8. Source: Photoxpress

Russia’s Tatneft and National Iranian Oil Company (NIOC) signed an agreement on Oct. 8 allowing the Russian company to explore the Dehloran site in western Iran with estimated deposits of 5 billion barrels of oil, Shana news agency reported on Oct. 9.

When signing an agreement, a representative of the Iranian company said that Tatneft should open its office in Iran "as soon as possible."

It was reported in August that NIOC signed agreements on developing Iranian deposits with seven foreign companies, including Russia’s Lukoil and Zarubezhneft. According to other reports, Lukoil may start discussing an agreement with Iran on two oilfields - Mansuri and Ab-Teymur - in May 2017.

Russian Energy Minister Alexander Novak said last week that Iran will reveal a new type of oil contracts with Russian companies in October or November this year.

Source: TASS

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