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LUKoil Wants to Take Part in Irani Project

LUKoil will sign a contract to give it a role in producing oil from Iran's Azadegan field,

LUKoil will sign a contract to participate in Iran's Azadegan project, Federal Atomic Energy Agency chief Sergei Kiriyenko said in Tehran on Monday.

But Kiriyenko did not say when the deal would be concluded or what stake LUKoil would have in Azadegan, a field that was to have been developed by a Japanese firm until talks collapsed.

"LUKoil has carried out some exploration at Azadegan oil field and, according to a contract that will be signed in the future, Iran will allow the Russian party to participate in recovering oil in Azadegan directly," Kiriyenko told a news conference with Iranian Foreign Minister Manouchehr Mottaki, The Moscow Times reported.