Tatneft Operations in Iran

Tatneft does not have any operations in Iran, as of August 2012.

The Iranian Oil Ministry's Petroenergy Information Network, known by its Persian initials SHANA, reported Tatneft signed a memorandum of understanding (MoU) in December 2011 to develop Iran's Zagheh oil field. According to United Press International, the report noted this would increase production there from 7,000 bpd to 55,000 bpd. Iranian Oil Minister Rostam Qasemi said both sides would sign off on a formal deal before March 2012, the end of the Iranian calendar year.

However, on 20 December 2011 Tatneft denied it made any deal with the Iranians. "In connection with certain reports in the media about Tatneft signing a contract with respect to certain oil fields in Iran, the press-service of JSC Tatneft informs that Tatneft Group have not entered into any agreements, contracts and have not accepted any other undertakings relating to oil and gas projects in Iran," the statement read. On 24 December 2011, Iranian national Press TV announced that Tehran had in fact signed an oil deal with Tatarstan, not the oil company Tatneft.

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