BELARUS NEWS AND ANALYSIS
DATE:
27/05/2007
Iran to finalize oil deal with Belarus
Reuters
TEHERAN - Iran aims to finalize in two weeks' time a deal allowing Belarus to extract oil from the Islamic Republic's southern Jofeir deposit, the Oil Ministry's web site Shana reported on Sunday.
The agreement was first announced on May 21 when Iranian President Mahmoud Ahmadinejad visited his counterpart Alexander Lukashenko in Belarus, which seeks new sources of energy for its economy amid frosty relations with Russia.
Iran, which faces a possible third round of UN sanctions over its nuclear ambitions, is keen to attract foreign investment to develop its oil sector. Belarus has defended Teheran's right to pursue its nuclear programme.
'In two weeks a delegation of Belarus experts will visit Teheran for following up the negotiations,' Gholamhossein Nozari, managing director of the National Iranian Oil Company (NIOC), was quoted by Shana as saying.
The amount of investment by Belarus is not clear yet, he said, adding the field's development will take three years.
'The clear issue in this plan is that 14 wells will be drilled and 25,000 barrels of oil (per day) will be produced.' Nozari said.
Lukashenko, broadly popular at home but accused by Western countries of crushing fundamental rights, has called for Belarus to diversify its energy sources.
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