Lukoil Willing to Explore for Oil, Gas in Iran

Russia’s Lukoil has started talks with National Iranian Oil Company (NIOC) to explore and develop oil and gas fields in the Caspian Sea, reports Iran’s Press TV.

Russian Ambassador to Tehran Levan Dzhagaryan said on Saturday that Lukoil has expressed desire to return to Iran’s energy market in light of sanctions being eased against the country.

The Russian firm was active in Iran’s Anaran block but pulled out of the country as a result of sanctions imposed by US and EU.

Last month, the Council of the European Union suspended part of the sanctions it had imposed against Iran following the nuclear deal between Tehran and the six world powers.

On January 25, the Iranian oil minister said major world oil companies have voiced readiness to start business in the country, adds Press TV.

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