Iran. Russia Sign Oil Contract

The CEO of the Russian energy company `Lukoil` Vagit Alekperov expressed hope that the company will sign a contract with Iran in 4 months to exploit some oil wells in the Islamic Republic.

Commenting on exploitation of oil wells in March. Alekperov said his company has no time to wait for the next month. Russian News Agency TASS quoted Alekperov as saying on Friday.

`Unfortunately. Lukoil has not been responsible for the delay and we require 4 months for signing the contract with Iran.` he said.

According to TASS. the Managing Director of National Iranian Oil Company (NIOC) Ali Kardor said earlier that contracts will be signed on exploitation of Mansouri and Mangoule oil fields in March.

The Mansouri oil field is an Iranian oil field located in Khuzestan Province. in the south east of Ahvaz city. It was discovered in 1963 and the production was started after installing production facilities in 1974.

The PJSC Oil Company Lukoil is a Russian multinational energy corporation headquartered in Moscow. specializing in the business of extraction. production. transport. and sale of petroleum. natural gas. and petroleum products.

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