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    Russia's Lukoil Plans Return to Iran After Removal of Sanctions

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    Iran's Nuclear Program Amid Western Sanctions (551)
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    Russia's oil and gas company LUKoil plans to return to Iran once sanctions over Tehran’s nuclear program are lifted, LUKoil’s President Vagit Alekperov said Tuesday.

    HOUSTON, April 21 (Sputnik) – Alekperov added that LUKoil wanted to return to Iran’s Anaran oil project, which the company had abandoned due to Iran sanctions.

    “We hope that the current political dialogues will open up investment opportunities on the Iranian territory in the medium term,” Alekperov told reporters at the IHS CERAWeek 2015 Energy Conference.

    The United States imposed economic sanctions against Tehran, accusing it of developing nuclear weapon under the guise of a civilian program. LUKoil was forced to withdraw from Iran in 2010.

    The Anaran field, with estimated oil reserves of 2 billion barrels, was operated by a consortium of Norwegian StatoilHydro (75%) and LUKoil Overseas (25%).

    Topic:
    Iran's Nuclear Program Amid Western Sanctions (551)

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    Tags:
    US sanctions, IHS CERAWeek, Lukoil, Iran, Russia
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