Iran, Petronas in Talks for Caspian Exploration

DUBAI (Dow Jones Newswires), Jul. 28, 2009

A senior Iranian oil official said Iran will start exploration activities in block 6 of the Caspian Sea in one month and is in talks with Malaysia's Petroliam Nasional Berhad, or Petronas, to contract seismic operations in the Caspian, the oil ministry's official Shana news Web site reports Monday.

"The company has entered into negotiations to sign the Malaysian company Petronas to do seismic operations in some Caspian Sea blocks in the near future," Shana cites National Iranian Oil Co., or NIOC, chief Seifollah Jashnsaz as saying.

This would be the first time Iran would participate in deep sea excavation, Jashnsaz said, adding that Iran will contract foreign companies for human resource and staff training for deep sea operations and to lead in drilling operations, reports Shana.

Jashnsaz said the NIOC will look for foreign financing for the project, according to Shana.  

Copyright (c) 2009 Dow Jones & Company, Inc.


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