With easing of sanctions, Russia revives energy ties with Iran
MOSCOW — Russia has again sought to return to Iran's energy sector.
Russian energy companies have been meeting with Teheran to discuss the terms of crude oil and natural gas projects.
On Feb. 1, Russia’s second largest oil producer, LukOil, met Iranian ambassador Mehdi Sanaei to review investment proposals.
"New oil contracts with Iran could be profitable both for National Iranian Oil Co. and investors," LukOil chief executive officer Vagit Alekperov said.
LukOil was said to have been lobbying for a stake in the giant South Pars program. Until 2011, the company, under the threat of international sanctions, was working with Norway's Statoil in the development of Iran's Anaran block.