(MENAFN) BP, the British oil and gas behemoth has voiced its readiness to invest in the development of certain Iranian oil fields, based on the latest reports.
Iran on the other hand said that talks are underway with BP for collaboration in oilfield development, boosting recovery rate at old fields and research projects.
The two parties are also negotiating the resumption of Iran's crude oil sale to the firm; hence BP has also expressed readiness to reopen an office in the Republic.
Furthermore, the London-based giant and the national Iranian oil company jointly share the Rhum gas field in the North Sea with an equal share of 50pct each.
Since the bans were removed in Jan, Iran has raised crude oil export to 2.2Mmn bpd and it targets to retake its pre-sanctions position in the global market.
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