Lukoil Reopens Iran Office

Lukoil Reopens Iran OfficeLukoil Reopens Iran Office

Russia’s oil company Lukoil has reopened its office in Iran, the company’s first vice president Ravil Maganov told reporters on Wednesday, TASS said in a report.

“We look forward to participating in projects in Iran after the sanctions are fully removed,” he said, adding that the Anaran project is Lukoil’s priority in Iran but the company is also interested in other projects.

“We are studying geological data on other projects as well”, he said. The Anaran oilfield is located on the Iranian-Iraqi border.

Lukoil started working on the Anaran block in 2003 but pulled out after economic sanctions had been imposed against Iran. In November 2014, Lukoil’s Chief Vagit Alekperov said that the company wants to return to the Anaran project in Iran, if possible, after sanctions are lifted.

“In our time, we discovered the Anaran oilfield on the Iranian-Iraqi border. Together with a Norwegian firm, we would like to return to this deposit. We know its geology and infrastructure,” Alekperov said. On April 2, the six powers (five permanent members of the UN Security Council and Germany) and Iran adopted a joint comprehensive action plan on Tehran’s nuclear program. The framework clears the way for talks on a comprehensive deal with Iran by June 30.