Iranian, Russian and Turkish investors strike rare oil, gas investment deal

By bne IntelliNews August 10, 2017

A non-governmental Iranian enterprise has struck a rare agreement with Russia's state-owned Zarubezhneft and Turkish private company Unit International to make joint oil and gas project investments, Iran's IRNA state news agency reported on August 9.

Public joint stock company Ghadir Investment, which is affiliated to the Armed Forces Social Security Organisation, has agreed a deal with the two foreign partners to jointly invest in developing oil and gas fields both in Iran and abroad.

Presently, Ghadir - the largest Tehran Stock Exchange-listed investment company with seven holdings and 140 subsidiaries operating in sectors including oil, gas, petrochemicals and power - is heading the three-way agreement but future investments will be founded on equal stakes, IRNA said.

Ghadir has shown interest in several projects developed by the National Iranian Oil Company (NIOC), carrying out studies on the third phase of the Darkhovin, Sepehr and Jofeir oil fields, as well as the Kish gas field, according to Platts energy news agency.

Zarubezhneft has signed several agreements with NIOC in the past two years, including for the development of two onshore oil fields, Aban and West Paydar.

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