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Iran, Russia's Gazprom sign oil and gas memorandum

RIA Novosti -- The Iranian government and Russian energy giant Gazprom have reached an agreement on oil and gas cooperation, the national Iranian oil company (NIOC) said on Wednesday.

"Iran and Gazprom have signed a memorandum of understanding to cooperate in the development of oil and gas fields, as well as investment and exploratory studies" NIOC Managing Director Seifollah Jashnsaz said.

Jashnsaz said the parties were continuing negotiations with a view to reaching a final agreement and signing a contract.

Iranian Petroleum Minister Gholam-Hossein Nozari said on Tuesday he hoped the ongoing negotiations with Gazprom to develop several sites at the South Pars gas field in the Persian Gulf and the North Azadegan oil deposit in the country's south would be successfully concluded in the near future.

Gazprom has been participating in the development of the South Pars field's second and third stages together with France's TotalElf and Malaysia's Petronas. The facility is operating in design mode to produce and process 20 billion cu m of gas annually.

Russia's leading oil company seeks Iran oil market

TEHRAN, Apr. 23 (Mehr News Agency) - Zarubezhneft, Russia's oldest company active in the oil and gas industry is interested in making investment in Iran's oil and gas industry, the company's deputy director for projects development and implementation stated Wednesday.

Stanislav A. Mikhailov said that the company was active in Iran in the 90s for digging a 6000-m exploration well in the Caspian Sea and carrying out geological surveys in the region, SHANA reported.

Zarubezhneft is a state-run oil company which was established in 1967 to implement oil projects outside Russia. It is the leading foreign economic enterprise in the oil and gas industry of Russia.

This company enjoys a long and rich work history and is active in the development and implementation of complex oil and gas programs and projects abroad, covering all stages - from exploration to facilitation of oil fields on land and offshore.

... Payvand News - 04/24/08 ... --

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