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Rosneft and NIOC to team up on oil & gas projects worth up to $30 billion

Rosneft said it has signed a road map with the NIOC to implement  projects in Iran.

Rosneft and NIOC to team up on oil & gas projects worth up to $30 billion Rosneft and NIOC to team up on oil & gas projects worth up to $30 billion


The CEO of Rosneft Igor Sechin said on November 1, 2017, that the company has signed a road map with the National Iranian Oil Company (NIOC) to implement strategic projects in Iran.

 

Igor Sechin said on Wednesday that the deal paved the way for legally-binding documents to be signed within a year.

 

The output from the joint projects, with total investments worth up to $30 billion, is seen plateauing at 55 million tons per year (1.1 million barrels per day), he added.

It is not yet clear how the investments will be split between the 2 companies.

 

«We are talking about several oil and gas fields, which we will develop with our partners,» Sechin said, adding that Rosneft has invited Iran to develop offshore and other projects in Russia.

 

Since coming into force in January 2016 of the Joint Comprehensive Plan of Action, a nuclear deal between Iran and the Group 5+1, Tehran and Moscow have ramped up efforts to boost bilateral trade.

 

To read the full story in Russian.

 

Source : Neftegaz.RU