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News number: 8803190730

14:56 | 2009-06-09

Economy

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Kazakhstan, Russia Probable Partners of Iran in Neka-Jask Oil Pipeline

TEHRAN (FNA)-Kazakhstan and Russia are two probable partners of Iran in Neka-Jask cross-country oil pipeline, said an Iranian oil official on Tuesday.



Iran's northern neighbors are willing to take part in the project but Kazakhstan and Russia are more probable to cooperate, Deputy Oil Ministry for International Affairs Hossein Noghrekar Shirazi told the Iranian students news agency.

It is important to identify oil fields that are to feed the pipeline and presently the most probable option is Kazakhstan because the pipeline needs to transfer 1 million barrels of oil a day through swap or transit, he noted.

The pipeline would travel from Neka port in Caspian Sea to Jask in the Persian Gulf to transfer north of Iran's oil to the south to reach global markets.

The design and engineering stages of the project have been implemented and a bid will be launched in order to choose the contractors. The venture needs 3 to 4 years to be fulfilled.