Gulf Oil and Gas accountACCOUNT

Iran & Azerbaijan to Form JV over Caspian Visions

Source: www.gulfoilandgas.com 5/6/2018, Location: Asia

Share |
Iran says it plans to form a joint oil company with Azerbaijan in what could prepare both to cooperate over the exploration and development of hydrocarbon reserves in the Caspian Sea and elsewhere.

The announcement over the formation of the company was made by Amir Hossein Zamaninia, Iranís deputy petroleum minister for international affairs and trading.

Zamaninia said that the company will be formed within the framework of a deal recently signed between the two parties.

Last month during a visit of Iranís President Hassan Rouhani to Azerbaijan, the two countries signed "The Memorandum of Understanding on "Joint Development of Relevant Blocks in the Caspian Sea."

"According to the signed document, a joint oil company should be established between the two countries, and we are now seeking to establish it," Zamaninia said, adding that the deal will come into force in coming days.

While responding to a question about possible impact of US withdrawal from the nuclear deal on Baku-Tehran oil cooperation, the official said "I think that the withdrawal or not withdrawal of Washington form the Joint Comprehensive Plan of Action (JCPOA) will not affect the Iranian cooperation with Azerbaijanís state oil company SOCAR."

Zamaninia further said that the JCPOA implementation is acceptable for Iranís oil sector until the Islamic Republic is able to sell its oil, receive the oil money and finance for oil and gas projects.

The top official put the countryís oil export level at 2.6 million barrels per day, saying Iranís oil export have witnessed a significant increase in the current month compared to the preceding months.

Mergers and Acquisitions News in Iran >>

Trinidad and Tobago >>  7/13/2018 - Columbus, the oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America, is pleased to announce it has ...
United States >>  7/13/2018 - Total announces the closing of the acquisition of Engieís portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of ...

Tanzania >>  7/11/2018 - Aminex is pleased to announce that its wholly-owned subsidiary, Ndovu Resources Limited, has signed a binding farm-out agreement ("Farm-Out") with The...
Norway >>  7/10/2018 - Aker BP and Aker Solutions are forming an alliance to deliver modification projects on three of Aker BPís fields. 'We have worked closely with Aker So...

France >>  7/6/2018 - Total and Direct Energie announce the completion of the acquisition by Total of 73.04% of the share capital of Direct Energie1, for 42 euros per share...
Japan >>  7/3/2018 - JERA Co., Inc ("JERA") and EDF Trading Limited ("EDFT") are pleased to announce the signing of binding agreements to form an LNG optimisation and trad...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Iran Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 |

More News

 

Oil & Gas Companies in Iran >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.