V. Alekperov: Lukoil is slightly disappointed with the conditions of a service contract with Iran

​Lukoil is slightly disappointed with the conditions of a service contract with Iran but hopes the changes might be introduced in it, Lukoil’s President, V. Alekperov, said.

Rosneft, Lukoil and Zarubezhneft intend for the right to develop the Shangule oil deposit at the block of Anaran deposits in the south-western Iran. The Government of Iran hopes that the international oil companies will actively invest into the oil sector after the cancellation of sanctions.

In November Iran held a conference on the distribution of new contracts for oil extraction at 52 deposits among the world oil and gas companies, including Rosneft, Lukoil, Tatneft and Gazprom Neft.

It was said that the investment into the production of oil and gas equipment and partnership agreements with local companies will be the key conditions at the distribution of contracts.

Currently Iran daily produces about 2.8 mln barrels. After the elimination of sanctions, Teheran plans to increase the production by 500,000 barrels a day within a few months.

Iran might produce 4-7 mln barrels of oil a day by 2020.