Fedun: Iran in 2016 will not conduct tenders for oil

MOSCOW, January 25. Iran this year will not hold tenders among foreign companies for oil and gas deposits. In an interview, said Vice-President “LUKOIL” Leonid Fedun.


“Next year I don’t think Iran will carry out any tenders”, – he said. Vice-President of “LUKOIL” believes that the Iranian government should determine the form of contract that it wants to offer to the investor.

“They don’t know (when will determine the form of the contract is approx. ed.) because this is a political issue. It does not depend on the Ministry of petroleum of Iran, and the decision should be taken by the political leadership with the participation of the clergy,” said Fedun. However, he believes that Iran will not be able to go out and “flood all of the oil.” Country for a very long time to be out from under sanctions and without massive foreign investment, technology will not be able to significantly increase its market share, he concluded.

According to Fedun, LUKOIL at the current price of oil is not ready to participate in projects in Iran. “At the price of oil no major company will agree to even the most attractive stocks, so we’re going to explore look,” said he.

In addition, Fedun said that the company has concerns re the imposition of sanctions on Iran. “The fears are there. Such a mechanism exists, but the Iranian leadership is very determined to return to the world market, so they will be carefully withstand all the parameters of the agreement signed on Iran’s nuclear program,” he said.

Read the whole interview