Russian Tatarstan: Iran Seeking Experience To Develop Heavy Crude
December 21 2011 - 4:54AM
Dow Jones News
The Russian republic of Tatarstan says Iran is seeking to
utilize its experience in heavy oil production to develop the
Zagheh heavy crude field, rather than developing the field jointly
with Tatarstan's oil company OAO Tatneft (TATN.RS).
Sunday, Iran's Oil Ministry website Shana said state-owned
Petroleum Engineering and Development Co. had signed a memorandum
of understanding with Tatneft to help develop the Zagheh field.
However, Tatneft immediately denied it had any involvement in the
project.
Later, a statement on Tatarstan's official website said
Tatneftekhiminvest-Holding--a local scientific center coordinating
the activities of oil and gas chemical enterprises in
Tatarstan--had signed a memorandum of understanding.
"The signed memorandum envisages the creation of a joint working
group that will consider and search for practical ways to implement
the reached agreements," the statement said.
-By Jacob Gronholt-Pedersen, Dow Jones Newswires; +7 495
232-9197, jacob.pedersen@dowjones.com
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