Lukoil disappointed by the contractual terms proposed by Iran.

Lukoil, Russia's second largest petro company, disappointed with the terms of service contracts in Iran, as the country does not want to abandon the service contracts that were in effect prior to the imposition of sanctions, said the company's president Vagit Alekperov.

"Service contracts have a little bit disappointing, but the final version we haven’t seen yet. I hope that these service contracts will be some elements of the concession", - he stated.

In late November, at a conference on new oil contracts to foreign companies, Tehran offered 52 new oil and gas projects worth about USD 30 billion. At the same time have been disclosed preliminary contract terms, the final will be announced in March. Foreign investors, who won the tender in Iran, they will have the obligation to choose a partner, Oil Minister of the country Bijan Namdar Zangene stated.