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27.02.17

Russia´s No. 2 oil producer Lukoil (LKOH.MM) hopes to reach a deal to develop two oilfields in Iran in April, Chief Executive Vagit Alekperov said on Monday.

Lukoil said last month that it was in talks with the National Iranian Oil Company (NIOC) on taking part in development of the Abe Timur and Mansuri fields in central-western Iran. It said it would start talks on contractual terms if Iran agrees to the development plans Lukoil has already submitted.

"A large number of our experts have been working in Iran. Once the (new) oil law in Iran is in place - it has not been completed yet - we, with the current pace of work, will be able to be ready for signing the deal in April," the veteran chief executive told Reuters.

Iran, the third-largest oil producer within the Organization of the Petroleum Exporting Countries, has been seeking to boost oil output and attract foreign investment since the lifting of international sanctions last year.

Its new oil and gas contract model, the Iran Petroleum Contract (IPC), is part of an effort to offer sweeter terms on oil development projects.

Last month Iran named 29 companies - including Lukoil - from more than a dozen countries that will be allowed to bid for oil and gas projects using the IPC model.

http://uk.reuters.com 

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