04 February 2004 05:17
Turkmenneft joins joint venture Zarit
MOSCOW. Feb 4 (Interfax) - Oil company Turkmenneft has become a player in the joint venture Zarit, set up in 2002 by
Zarubezhneft, Rosneft and Itera, a source with one of the participants has told Interfax.
The Turkmen company has received a 15% stake in Zarit in a redistribution of other participants' shares. Rosneft
and Itera each now have roughly 31% instead of 37%, Zarubezhneft around 23% instead of 26%. Zarit was set up to work
blocks 28, 29, 30 and 31 on Turkmenistan's section of the Caspian Sea shelf.
that "there could be a contract signing with the Russian-Turkmen
company Zarit, consisting of Zarubezhneft, Rosneft, Itera and,
Turkmenistan has invited Iran to become a partner, too, though Iran has not yet indicated its acceptance. The source
noted that the country's involvement would be desirable for the project's implementation.
Zarit may well be signing a production sharing agreement with Turkmenistan on a project for developing Caspian Sea
shelf deposits later on this month.
Deputy Foreign Minister Viktor Kalyuzhny, Russia's presidential envoy on the legal status of the Caspian Sea,
announced on Wednesday
Before it is, "We cannot take part in the project," which is
located in a disputed area, he said. "The dispute has to be settled
naturally, Turkmenistan."
In early November, the company's first board of directors meeting voted to bring Turkmenistan and Iran on board
to speed up the project's implementation. The possibility of giving them each 10% to 15% of Zarit is being
discussed.
However, Iranian Ambassador to Russia Gholamreza Shafee has said that the possibility of Iran's involvement in
Zarit might only be looked at after the Caspian's legal status is settled.
first, then a decision can be made." [RU EUROPE EEU ASIA EMRG CRU ENR IR TM] cf <>
[Interfax] |
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