Rosneft Sets Sight on Iran’s Zagros Region

Russia’s state-controlled oil giant Rosneft is interested in oil and gas projects in Iran’s western region of Zagros, after signing a deal last year to do business in the country, an official document showed on Friday.

The document, published on a government website that details tenders by state companies, said that as of mid-February Rosneft planned to assess the prospects for exploration and production projects in Zagros.

No other details were given, Reuters reported.

Last year, Rosneft and the National Iranian Oil Company (NIOC) agreed an outline deal to work together on a number of “strategic” projects in Iran worth up to a combined $30 billion.

The potential collaboration with Iran would strengthen Rosneft’s position in the Middle East where it has already secured a number of deals, including the acquisition of a majority stake in Iraqi Kurdistan’s main oil pipeline.

Iran and Russia have formed a strong alliance in recent years and ramped up efforts to boost defense cooperation, trade ties, and cultural interaction.

(Source: Tasnim, under Creative Commons licence)

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