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Russia`s largest independent oil producer. Lukoil. is actively looking for growth opportunities in the Middle East. the company’s vice president in the region. Gati Al-Jebouri. said Monday.
The executive said in a Bloomberg television interview monitored by Kallanish Energy Lukoil is “actively in discussion with the government in Oman for opportunities. here in the UAE.” and in Kuwait.
Al-Jebouri noted Abu Dhabi’s national oil company. ADNOC. has extended its licenses on onshore fields and will be looking for partners for its offshore oilfields by 2018.
“All opportunities being brought to the table are of interest to us.” he said. adding the key point is a deal`s economics need to make sense for both parties.
Lukoil is in discussions with Iran’s national oil company. NIOC. with proposals to develop two oilfields: the Abe Timur and the Mansuri. in western Iran. On Monday. Lukoil’s CEO Vagit Alekperov reportedly said the deal would be sealed in two months.
A large number of our experts have been working in Iran. Once the (new) oil law in Iran is in place — it has not been completed yet — we. with the current pace of work. will be able to be ready for signing the deal in April. Alekperov was quoted as saying by Reuters.
Lukoil’s Middle Eastern expansion also includes Iraq. where the company is producing around 400.000 barrels a day (BPD). according to Al-Jebouri. Output in the country won’t be impacted by the cut pledged by OPEC. as opposed to Lukoil’s activities in Russia.
