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Zarubezhneft

Zarubezhneft

Industry: 
Energy
Symbol: 
RU: ZRNFT
Country: 
Russia
Contact Information: 
Sources: 

"Russian state-owned oil company Zarubezhneft is willing to develop a major oilfield in western Iran which is projected to come online with $2.2 billion of investment, a news agency says.  Zarubezhneft Chief Executive Nikolay Brunich has announced his company's readiness to participate and invest in the development of Changuleh field in Ilam, Mehr said on Monday. He traveled to the city during a recent visit by Russian Energy Minister Alexander Novak to Iran and signed a letter of intent with the governor of Ilam, besides discussing construction of an oil refinery. After visiting Tehran, Novak said Zarubezhneft would take up several projects worth a total of $6 billion in Iran's oil industry. The company will send a team of experts to Ilam 'soon' to examine the field, Mehr reported." (Press TV, "Russia‚Äôs Zarubezhneft eyes major Iran oilfield," 11/2/15) 

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"Russian oil producer Zarubezhneft OAO has 'no result yet' from talks with Iran on joint oil projects, the company said. 'Iran is interesting for our company as a country with one of the biggest hydrocarbon resources, but we need an approval from the government to continue,' Zarubezhneft Deputy Chief Executive Officer Artyom Garibyan told reporters in St. Petersburg, Russia today. 'We are in talks with the Iranian side, but there is no specific result yet,' he added." (Bloomberg News, "Russian Zarubezhneft Says No Progress On Oil Projects With Iran," 6/24/12)

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"Russian state-owned oil group Zarubezhneft met with Iranian officials on Thursday to discuss upstream oil projects in Iran amid international sanctions against Tehran, which Moscow has called 'counterproductive', a company source said. A Zarubezhneft spokeswoman confirmed the meeting with Iranian officials but declined to elaborate. A source at the Russian Energy Ministry also said that an Iranian delegation was expected this week... The source said the head of the Iranian National Oil Co. Ahmad Ghalebani met Zarubezhneft officials in Moscow on Thursday. 'Particular projects were not discussed,' the source said, adding the meeting was more of a 'Zarubezhneft presentation to Iranians.' The source also reiterated Zarubezhneft's desire to work in Iran 'providing security guarantees and Russian government approval.' Zarubezhneft, created during the Soviet period, represents Russian state interests in overseas oil projects. Its biggest project to date is in Vietnam, where it has run the Vietsovpetro joint venture with state firm Petrovietnam since 1981." (Reuters, "Russia's Zarubezhneft discusses oil with Iran," 4/5/2012)

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