The Turkish, Russian and Iranian energy companies have signed an agreement worth $7 billion to explore oil and natural gas in Iran
Turkish, Russian and Iranian energy companies have signed joint-venture agreement to develop oil and natural gas fields in Iran.
Unit International Energy Inc. from Turkey has said to have signed the agreement to improve oil and natural gas field in Iran together with Russian and Iranian energy companies.
According to the statement from the company, the Turkish Unit International Energy Inc. has agreed with the Russian state-run company Zarubezhnet and Iranian company Ghadir Investment Holding to explore oil and natural gas in Iran.
The agreement features the first three sided investment agreement of the Iranian company that has signed with foreign companies. 10 billion barrels of the total reservoir in the investment chains accounts for $7 billion with the total daily production of 100 thousand barrel in the crucial oil beds. As for the natural gas bed has production capacity of 75 billion cubic meters per annum.
In the statement said, the consortium would also explore oil and natural gas in other fields in Iran. It is also indicated that only in one region, the natural gas could meet more than 150 years need of Turkey.
Regarding confidentially, the share of the companies from the sales of oil and natural gas to be explored was not announced, the joint venture agreement between the three countries highlighted the importance of energy for the future.
In the statement recorded that the partnership have become milestone for the petrochemical industry in Iran, Turkish Unit International Energy Inc. has said to have agreed with the related offices to install 4 different natural gas power plants with 5 thousand megawatt in the country.