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Lukoil CEO negotiated joint projects with Iranian Oil Minister

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Lukoil CEO negotiated joint projects with Iranian Oil Minister

Lukoil is interested in developing its business in Iran and is currently studying several projects, the company’s press office reported following a meeting between the head of the company, Vagit Alekperov, and the Oil Minister of Iran, Bijan Zanganeh.


“We are interested in developing business in Iran and at present, we are examining several potential projects. Adoption of the petroleum law will facilitate the inflow of investments into the sector”, — the press office quotes Vagit Alekperov.

The parties also discussed topical issues of development of global oil market.

In 2003, Lukoil jointly with Norway's Norsk Hydro signed a contract for exploration of the Anaran block in Western Iran. Later, two fields, Azar and Shangule, were opened there. In 2010, due to international sanctions imposed against Iran, Lukoil withdrew from the project, although, the company retained interest in it.

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