Iran, Russian company to "secretly" agree on oil development in Iraq

Friday, August 5, 2016 5:15 AM

Teheran/ Iraq TradeLink:

Iran disclosed its "secret" negotiations with a Russian company to develop
two joint Iraqi-Iranian oilfields and building a refinery there.

Deputy Chairman of the Iranian National Oil Company Ghulam Reza Manushehri stated that the company is currently negotiating with governmental Russian Zarubezhneft Company to develop joint oilfields in Ira to increase their production and building a refinery there in Aban and West Bidar oilfields.

Manushehri expected that the road plan for the development of the two oilfields will take 4-6 months, but disclosed that the secret agreement was signed on 12 July, 2016.

On 18 August, 2015, Iraqi ambassador to Teheran disclosed that Iraq was trying to have mutual investment in the joint oilfield of Azadikan, but many sources accused Iran of "illegally" trying to utilize the oilfield.

Posted in: Economy,Teheran