December 26, 2011 at 1:11 AM by AHN ? ?
AHN News Staff
Keiv, Ukraine (AHN) ? In order develop three oil fields in Iran, a Ukrainian company on Sunday announced its plans to invest USD 1 billion in the war-hit Middle Eastern nation.
Ukraine?s Inter Naft Gas Prom Pars is expected to sign the agreement with Iran?s Petroleum Engineering and Development Company by March next year.
The Ukrainian company is expected to produce 10,000 and 25,000 barrels of oil per day from Koohmond, Boushkan and Kouhkali oil fields in the first and second phase respectively.
Ukraine?s announcement came less than a week after local media claimed that Russian Tatarstan republic?s Tatneft Oil Company signed a contract with an Iranian company for Zagheh oil field?s development in southern Iran ? a claim later denied by Tatneft Oil Company.
Under the United Nations? sanctions, no country is allowed to invest in Iran?s oil and gas projects, prompting the several western energy giants like Shell and Total to withdraw their investments from the country.
The Islamic Republic is accused of developing nuclear power under civilian cover ? a charge Tehran strongly denies and claims it is for peaceful purposes. However, it fails to convince the West.
Article ? AHN ? All Rights Reserved
Source: http://gantdaily.com/2011/12/26/ukraine-mulling-investing-usd-1-billion-in-iranian-oil-fields/
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