Lukoil, Total negotiating with Iran for development of oil fields

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On November 28, 2015, Posted by , In News, With No Comments

Managing Director of National Iranian Oil Company Rokneddin Javadi said on Saturday that Russian Lukoil and French Total are involved in negotiations with NIOC on development of certain oil fields.

‘China is strategic partner of Iran to develop oil field and after sanctions, NIOC will continue cooperation with Chinese companies,’ said Javadi in an interview with reporters on the sidelines of the International Seminar on new model of oil contracts.
Javadi said that NIOC is considering cooperation with Chinese Sinopec Company to develop the second phase of Yadavaran oil field.
He said in the meantime that talks are underway with Indian company for development of Farzad B field and agreement has not been concluded yet.
On the post-sanction projects for oil production, he said on the basis of the sixth plan, the oil production capacity should rise to 4.7 million bpd.
He said that inventories suffered a setback requiring more than two million bpd increase to the oil production capacity to meet the 4.7 million bpd.

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