LUKoil hopes to develop Iran’s Caspian Sea Shelf

    LUKoil has proposed to cooperate with Iran in the latter’s section of the Caspian Sea. Thus the company plans to increase own oil reserves.     Forecasted reserves on the Iranian shelf totaled more than 10 billion barrels of oil. LUKoil’s proven reserves total 16.11 billion barrels (in addition to a forecasted...