Japan to Proceed With Talks on Iran Oil Field, FT Reports
Aug. 20 (Bloomberg) -- Japan is still in talks with Iran to develop the country's Azadegan oil field despite U.S. opposition to the investment because of concern that Iran is developing nuclear weapons, the Financial Times reported, citing an unidentified Japanese government official.
Tokyo considers the issues as separate though it is trying to persuade Tehran to sign an additional protocol of the International Atomic Energy Agency, the paper said.
Japan will push ahead with talks on the Azadegan oil field if its development is commercially viable, the FT said.
Iran's oil minister, Bijan Namdar Zanganeh, has said he wants to reach an agreement with Japan this year to develop Azadegan, Iran's biggest oil find in 35 years. Analysts estimate the deposit may have as much as 6 billion barrels of recoverable oil.
Japan in June missed a deadline for signing an agreement with Iran after the U.S. opposed Japanese investment in the field. Iran denies Washington's charge that it is developing nuclear weapons.
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