Business Services Industry
Norsk Hydro ASA and OAO Lukoil sign cooperation agreements
Nordic Business Report, Feb 17, 2003
NORDIC BUSINESS REPORT-17 February 2003-Norsk Hydro ASA and OAO Lukoil sign cooperation agreements(C)1994-2003 M2 COMMUNICATIONS LTD http://www.m2.com
The Norwegian energy and materials group Norsk Hydro ASA said on Friday (14 February) that it had signed a cooperation agreement with the Russian oil company OAO Lukoil regarding Lukoil's participation in Norsk Hydro's 100% interest in the Anaran block in Iran.
The agreement, signed by Norsk Hydro and Lukoil's international project operator Lukoil Overseas Holding Ltd, is conditional on the approval of the Iranian authorities.
Norsk Hydro's business area Exploration and Production International has also signed a letter of intent regarding other cooperation with Lukoil Overseas.
"The letter of intent between Lukoil and Hydro is very positive," said Kama Holte Strand, information manager at Hydro Exploration and Production International.
"It may also open up for cooperation on projects in Russia," Strand added.
((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))
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