• 4 minutes Nord Stream 2 Halt Possible Over Navalny Poisoning
  • 8 minutes America Could Go Fully Electric Right Now
  • 11 minutes JP Morgan says investors should prepare for rising odds of Trump win
  • 18 hours Permian in for Prosperous and Bright Future
  • 2 hours Daniel Yergin Book is a Reality Check on Energy
  • 4 hours Gepthermal fracking: how to confuse a greenie
  • 10 hours YPF to redeploy rigs in Vaca Muerta on export potential
  • 9 hours US after 4 more years of Trump?
  • 11 hours Top HHS official takes leave of absence after Facebook rant about CDC conspiracies
  • 3 hours The Perfect Solution To Remove Conflict Problems In The South China East Asia Sea
  • 2 days US Oil Refinery Fexibility
  • 2 days China Must Prepare for War Says State Media
  • 2 days Interconnection queues across the US are loaded with gigawatts of solar, wind and storage
  • 19 hours Surviving without coal is a challenge!!
  • 2 days Portuguese government confirms world record solar price of $0.01316/kWh
  • 2 days Trump's Drilling Ban Bombshell Rocks Oil Industry
Oil Rises After EIA Confirms Crude Inventory Draw

Oil Rises After EIA Confirms Crude Inventory Draw

Oil prices continued to rally…

What BP Got Wrong About Global Oil Demand

What BP Got Wrong About Global Oil Demand

The recent BP Energy Outlook…

Russia’s Gazprom Neft & LukOil Team Up To Develop Iranian Oil Fields

Russian oil companies Gazprom Neft and Lukoil have filed plans to develop oil fields in Iran, the National Iranian Oil Company (NIOC) said in two separate statements this week.

Lukoil, together with Indonesia’s state firm Pertamina, are proposing to develop the Mansouri oil field in southwestern Iran, NIOC said on Wednesday.

Back in February this year, Pertamina was proposing to develop two oil fields in Ab Teymour and Mansouri, which the Indonesian company had estimated at containing 1.5 billion barrels of oil reserves.

Gazprom Neft, for its part, has filed plans to develop two oil fields in Iran-- Changouleh and Cheshmeh Khosh.

NIOC will review the Russian company’s plan and will decide if the proposal will go through, based on NIOC’s terms and conditions, the Iranian company said.

Earlier this week, top Gazprom Neft officials visited Tehran and met with Amir Hossein Zamaninia, Iran’s deputy petroleum minister for international affairs and trading.

“Iran and Russia have signed a cooperation roadmap based on which workshops will be held in the two countries on enhanced oil recovery and maximization of oil production from oilfields,” the news service of Iran’s oil ministry says.

Related: Venezuela’s “Oil Fire Sale” To Benefit Russia, China

Earlier this month, Russia’s Zarubezhneft, Turkish energy company Unit International, and Iran’s non-governmental firm Ghadir Investment Company pledged to invest a combined US$7 billion to drill at three oil fields and one natural gas field in Iran.

At the beginning of this year, NIOC issued a list of 29 companies that had qualified for bidding in oil and gas tenders, of whom only one is a U.S. player, Schlumberger. Russia’s Gazprom and Lukoil were among those that qualified, alongside China’s Sinopec, CNPC, CNOOC, and CNPW, as well as the state-owned oil companies of Indonesia and Malaysia – Pertamina and Petronas – plus Japan’s INPEX Corporation, Itochu, Mitsui, and Mitsubishi, and Japan Petroleum Corporation.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News