Lukoil decides not to compete for Iranian project

Lukoil will not compete for a project in Iran it previously showed interest in.

As the company’s CEO Vagit Alekperov announced at the Saint Petersburg Economic Forum, Lukoil is now considering only one project in Iran, the Ab-Teymour field. “Iran will implement the Mansouri [project] with others,” he is quoted as saying by Interfax.

Alekperov noted that the company is “doing no sudden movements towards Iran, but assesses the risks.”

As EADaily reported earlier, Lukoil bid for the Mansouri oil field located in Khuzestan Province. The tender for its development was announced by the National Iranian Oil Company in summer 2017. Apart from Lukoil, the Indonesian Pertamina wanted to develop it.

In winter 2018, Lukoil was in talks on establishing consortiums with Maersk, Denmark, and Pertamina, Indonesia, on the Ab-Teymour and Mansouri oil fields.