Russia’s Lukoil ready to invest in Iran as much as in Iraq

MOSCOW, Mar 24 (PRIME) -- Russian oil major Lukoil is ready to invest in Iranian fields as much as it invested in Iraq, Vice President Leonid Fedun told reporters Thursday.

“Yes, if there are conditions that correspond to our investment demands,” he said.

He said that this year’s spending in Iraq is expected at U.S. $500 million, while compensations may reach about U.S. $1.5 billion.

“We look at it the same way we look at Iraq. We are successful in Iraq, we lead many projects there. Iran has the same system and same provinces. There is a whole range of deposits which know well. But there has been no legislation, no decisions so far,” Fedun said.

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