Russia's Gazprom looks to develop two Iranian oil fields

14 December 2016

Iran is signing a raft of energy agreements with foreign firms in the second half of 2016

Russia’s Gazprom has signed initial agreements with the view to develop two Iranian oil fields.

The Russian energy giant will conduct studies on the Cheshmeh Khosh and Chenguleh oil fields in the west of the country, after signing an unspecified agreement with the state-run National Iranian Oil Company.

In November, Norwegian oil and gas operator DNO also signed an initial agreement to study the Chenguleh field.

The Russian firm’s subsidiary Gazprom Neft meanwhile signed a memorandum of understanding (MoU) with the National Iranian Gas Company to develop gas projects in Iran.

Russia was keen to develop the gas value chain from start to finish and also work with international firms, such as Dutch and French energy companies, said Gazprom deputy chairman Alexander Ivanovich Medvedev, in comments reported by the Iranian Petroleum Ministry’s news service Shana.

In September, Russian firms Lukoil signed a MoU over the development of Mansouri and Ab Teimour oilfields in the southwest Khuzestan province.

Russian oil firm Zarubezhneft signed MoUs in June 2016 to study the Aban and West Paydar oil fields, which lie along the border with Iraq.

Russian energy minister Alexander Novak said Moscow was keen to co-operate with Iran to develop its Bushehr nuclear power plant as well as electrify railroads.

Russia was also ready to sell aircraft to Iran, he added.

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