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Tehran in talks with Russian companies on petroleum swap deals

Iran will present its oil and gas contracts to the Russian companies on November 17

© AP Photo/Vahid Salemi

MOSCOW, November 10. /TASS/. Tehran is in talks with Russian companies on petroleum swap deals, Iran's deputy oil minister for international affairs Amir-Hossein Zamaninia said Thursday.

"Yes, we are," he said when asked whether the country is in talks with the Russian Federation on swap deals.

According to deputy minister, initially the deals may total 150,000 barrels per day to be increased to 500,000 barrels per day "within a short period of time."

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Zamaninia also said that Tehran had previously discussed swap deals with Rosneft but failed to reach "progress in the talks," though the consultations are still underway.

In mid-August, it was reported that Iran was ready to resume oil trade under swap deals with its northern neighbors via the North Oil Terminal in Neka.

Petroleum swap deals allow Iran to turn around its oil supplies to refineries in the country’s north as the majority of its oil fields are located in the south

Tehran is planning to make heads of agreements with Russian companies Lukoil, Gazprom, Gazprom Neft, Zarubezhneft and Tatneft in the second half of December, Zamaninia pointed out.

"Lukoil, Gazprom, Rosneft, Gazprom Neft, Zarubezhneft and Tatneft - all have made preliminary agreements with Iranian companies. All these (Russian) companies need to do their homework and then get the ball rolling on sealing the agreements in the second half of December. Preliminary discussion are already over," he said.

Moscow-Tehran oil contracts

Moscow and Tehran are in talks over a potential exclusive presentation of Iran’s oil and gas contracts for Russian companies, Russia’s Deputy Energy Minister Kirill Molodtsov said Thursday, adding that the two specialized ministers have reached this agreement and currently the place and date are being discussed.

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"We expect the agreements reached by heads of two ministries - of energy (of the Russian Federation - TASS) and Iran’s Petroleum Ministry - about a potential exclusive presentation of the current conditions and contracts, under which the Islamic Republic of Iran is planning to attract foreign companies and foreign investments in the projects on its soil, to be presented to Russian companies. Respective notes and respective documents have been sent and we’re expecting a response from the Iranian side about the date and location," he said.

Rosneft, Gazprom, Lukoil, Gazprom Neft, Zarubezhneft and Tatneft have made up a list of Iranian fields they are interested in:

"Almost all companies that I mentioned today, I only omitted mention of Tatneft, all have particular interests," the official noted.

Iran and Gazprom will discuss the participation of Russia’s top gas producer in Iranian projects on Friday, Iran's deputy oil minister for international affairs Amir-Hossein Zamaninia announced.

"I’m meeting (with Gazprom - TASS) tomorrow, with Mr. Markelov (Gazprom Deputy CEO Vitaly Markelov - TASS)," he said when asked about the stage of the talks with the company, adding that "Gazprom is interested in the development of several gas fields in the Persian Gulf."

The new type of oil contract will be presented to Russian companies on November 17 in Tehran.

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Oil & Gas Gazprom Lukoil

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