Russia’s second-largest oil producer plans to sign a deal on oil exploration and production with Iran following the July 14 nuclear agreement between Tehran and world powers, media reports said.
Vagit Alekperov, Lukoil’s chief executive officer, said he plans to meet with Iran’s Oil Minister Bijan Namdar Zanganeh when the Organization of Petroleum Exporting Countries (OPEC) gathers in Vienna in December, Bloomberg reported on Friday.
Oil companies are eyeing projects in Iran, which has one of the world’s largest oil reserves, after Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14 reached a conclusion over Tehran’s nuclear energy program in the Austrian city of Vienna.
The comprehensive nuclear deal would terminate all nuclear-related sanctions imposed on Iran after coming into force.