"Talks with Petrobras on the drilling contract in the Caspian Sea are under way," Iran's Oil Minister Gholamhossain Nozari said last week.
However, Iran would not wait for the Brazilian company and would carry on with exploration of its waters in the sea, he added.
Talks with Petrobras have been going on for some time. The Brazilian company is involved in exploration drilling at the Tusan block in the Persian Gulf, where it completed the first of two wells more than a year ago, but its prospects there and its plans for further involvement in the Caspian are unclear.
Deputy
