News

An Iranian official says negotiations to finalize an oil-fields deal
with Gazprom Neft, the oil arm of Russia's OAO Gazprom, are in final
stages.

"We are in the last stage … We hope to have a final decision soon",
Hojatollah Ghanimifard, vice president in charge of investment affairs
at the National Iranian Oil Company (NIOC) told Dow Jones Newswires.

The official added he hopes the two sides will reach "a good
conclusion" on the deal.

In November last year, a preliminary agreement was concluded with
Gazprom Neft to develop Iran's Azar and Shangule oil fields.

The deal comes in defiance of the recent sanctions resolution
adopted by the UN Security Council against Iran.

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