Iran and Japan open to US stake in Azadegan oilfield

Iran and Japan are open to eventual US investment in a controversial project to tap the Islamic Republic's giant Azadegan oilfield, a top Iranian oil official said on Thursday.
Hossein Kazempour Ardebili, Iran's Opec governor, told Reuters that Japanese negotiators suggested the possibility of "reserving shares" for a US partner during talks for the $2 billion contract awarded to Japan's INPEX Corp last week.
"During the course of discussions for Azadegan, the Japanese were thinking of the possibility of an American company eventually joining the project," he said.
They wanted to know whether Iran would accept US investment and whether it was willing to release part of its holding in the scheme, Kazempour added.
"We said we are willing to relinquish or release proportionately to any third parties, including American companies, based on the contract," he said. "We are open to US companies joining Azadegan."
Japanese government-backed INPEX agreed last week to develop the southern half of the field, one of the world's largest untapped finds, after nearly four years of talks. It holds 75 percent of the package, Iran the remainder.
"The Japanese are very interested in involving the Americans in Azadegan," said a senior Iranian oil official involved in the contract talks. "They are after US technology and they might believe this is a way to bring Iran and the US together."
While Iran has often said it would welcome US investment, Washington's unilateral sanctions have blocked US majors from the oil-rich country's energy race since the mid 1990s.
But some analysts suggest the victory of conservatives in Iran's parliamentary election last week might end factional infighting in Iran that had hampered improved ties and lead to warmer relations between Tehran and Washington.
"At least Washington will be hearing one voice from the executive and parliamentary side," said an Iranian government source.
The United States was quick to express its disappointment over the Azadegan contract, but the Iranian source said it only went ahead after Tokyo's "close friend" gave it the green light.
Washington had pressured its key Asian ally Japan to back off from investing in Iran because of the country's alleged pursuit of nuclear weapons. Tehran denies the charge.