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Zarubezhneft Pauses on Iran

While state oil company Zarubezhneft continues to retain its interest in Iranian operations, there is no talk of concrete projects yet, deputy general director Artyom Garibyan told reporters, Interfax reported.

"Iran is of enormous interest to us as a country with the world's biggest oil and gas resources," he said. But talks over cooperation with Iran have been paused, he said. "We have to get permission from the government on this matter. We continue talks and consultations with Iran," Garibyan said.

According to media reports, Zarubezhneft had signed a memorandum with Iran whereby the company planned to continue talks and look for sites for geological surveying and production in the future.

(MT)

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