October 12, 2008

Zarubezhneft eyeing investment in Iranian oil and gas sector

Tehran Times reported that Russia’s oil & gas major Zarubezhneft is interested in making investment in Iran’s oil and gas industry.

Mr Stanislav A Mikhailov deputy director for projects development and implementation at Zarubezhneft said that it is active in Iran in the 90s for digging a 6000 meter exploration well in the Caspian Sea and carrying out geological surveys in the region.

Zarubezhneft is a state run oil company which was established in 1967 to implement oil projects outside Russia. It is the leading foreign economic enterprise in the oil and gas industry of Russia. It enjoys a long and rich work history and is active in the development and implementation of complex oil and gas programs and projects abroad, covering all stages from exploration to facilitation of oil fields on land and offshore