Novak: the Russian company Zarubezhneft is interested in a number of projects in Iran

The advantage of the company “Zarubezhneft” is that it specializes in the increase of oil recovery at old oilfields, said the Minister of energy Alexander Novak.

MOSCOW, 12 Nov. Zarubezhneft has offered Iran’s services to increase the oil recovery factor from existing fields, at the end of October has signed a Memorandum on the development of the field Shangula, told reporters energy Minister Alexander Novak.

“The Commission Zarubezhneft, suggestions were made about interest in specific projects. One of the advantages of the company — it specializes in the enhancement of oil recovery in old fields. This is one of the areas in which “Zarubezhneft” offers its services. The second direction — development of the field Shangule. During my visit to Iran in late October, the company Zarubezhneft have signed a Memorandum on participation in this project,” said Novak.

He noted that now is a more detailed study of possible contracts.