LUKoil hopes to sign development deal for Iran’s Azar field

Russia's LUKoil hopes to sign a development deal for Iran's Azar oilfield in April, a senior LUKoil executive said.
"We are very hopeful that this can be signed in April," Viatcheslav Kosmynin, LUKoil’s director in Iran, said. "We have submitted the development plan to Iran with our partners Norsk Hydro and are negotiating terms."

Norway's Norsk Hydro and LUKoil worked together on an exploration contract for the field and discovered oil there in 2005.
The companies later said the field holds 2 bn barrels of oil.