Iran eyes Russia, China if Japan stalls on oil deal

Iran has warned Japan of a possible move to seek joint development of its giant Azadegan oil field with Russia or China if it cannot reach an agreement with Japan by Sept. 15, a local news agency reported.

Mehdi Bazaargan, managing director of Iranian developer Petroleum Engineering & Development Co., expressed concern over sluggishness on the part of the Japanese government-linked Inpex Corp., which holds the concessions for the development project.

The oil field in southwestern Iran is one of the world’s largest, estimated to hold 26 billion barrels worth of crude oil reserves.
Japan Times