Tatneft denies signing contract on Iranian oil field
Russia's Tatneft denies signing a contract to develop Iranian oil field, the company said in its statement on its official website.
"Tatneft Group has not reached any agreement, contract and has not accepted any other undertakings relating to oil and gas projects in Iran," Tatneft's statement says.
Earlier it was reported that National Iranian Oil Company (NIOC) and Tatneft signed a deal, worth $700 million, in Tehran to develop the Zagheh heavy crude oilfield in southwest Iran.
According to the reports, the deal is aimed to produce 7,000 barrels per day (bpd) of heavy crude from the oilfield in the first phase and boost it to 55,000 bpd in the next phases.
The field has been left inactive for several years.
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