Gazprom Neft is ready to operate in three more fields of Iran under similar terms.

Gazprom Neft CEO Alexander Dyukov said the company had addressed Iranian authorities in August, expressing desire to develop North Azagedan field under the buyback conditions.

"There are a few issues calling for further specification and elaboration. We are waiting for Iran's invitation to go there and discuss them," Dyukov said.

Gazprom Neft estimates the reserves of North Azagedan at 150 million tons. If the long-term contract for oil trading is concluded, the company will be able to add the reserves to the balance.

"In essence, it is the servicing contract. We bear the costs agreed on in advance and to be set off at the fixed yield. We are to agree on the yield and on the oil quantities that we will have for selling," Dyukov pointed out, adding that the annual production could be from 5.5 million tons to 6.5 million tons.

The company is willing to develop three more fields in Iran under similar terms. They are Shurum, Kuh-e Rig and Dudru, and respective negotiations are underway.

Russian companies are stepping up presence in Iran.

Nozari: Iran, Oman to Follow up Gas Deal

TEHRAN (Fars News Agency)- Iranian Oil Minister Gholam Hossein Nozari said on Tuesday that Iran and Oman will pursue negotiations next week to follow up gas deals.

Nozari held talks with a number of senior Omani officials including his counterpart and the country's ministers of industry and foreign affairs on issues of mutual interest.

Leading an Iranian delegation to Oman, Nozari held talks with the Omani officials on energy cooperation and development of oil and gas fields as well as export of gas to Oman.

During his meetings, Nozari elaborated on Iran's oil and gas potentials as well as existing opportunities for boosting mutual cooperation.

The two sides agreed to set up a technical committee in Tehran to follow up the process of cooperation for development of oil and gas fields.

Iranian and Omani officials are reportedly due to hold talks on Oman's investment in developing Iran's Kish gas field, Iran's gas export to the country and bilateral cooperation on Oman's Liquefied Natural Gas (LNG) industry.

The talks with Omani officials have had ups and downs over recent months.

Also managing director of National Iranian Offshore Oil Company Mahmoud Zirakchian-Zadeh declared talks are underway to send one billion cubic meters of gas from Kish gas field to Oman per day, adding that the agreement will be signed by the next March.

According to the agreement Iran will provide Oman with a part of its required gas to expand LNG Industry.

The pricing will be carried out according to international rates.

Oman is to change a specified part of its received gas to LNG for Iran's national oil company.

... Payvand News - 09/04/08 ... --