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05.10.17

Lukoil signed two preliminary agreements with the National Iranian Oil Company to study the Caspian Sea´s oil and gas potentials, paving the way for Russia´s second-largest oil producer to further cement its position in Iran´s petroleum market.
The agreements were signed in Moscow in the presence of Lukoil CEO Vagit Alekperov and Oil Minister Bijan Namdar Zanganeh who traveled to Russia for the 19th ministerial meeting of the Gas Exporting Countries Forum, the NIOC news portal reported.
The agreement is to "perform a geological survey in the Caspian Sea" to unlock Iran´s massive hydrocarbon reserves in one of the world´s biggest offshore oil and gas regions, NIOC said.
A memorandum of understanding was also signed between Lukoil and Khazar Exploration and Production Company, a subsidiary of the state-owned NIOC, Sputnik reported, citing an oil industry source.

financialtribune.com

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