Canadian Oil Company Prefers Turkmenistan To Iran

The Canadian Tracer Oil Corporation has said that the company will stop any attempt to receive any oil project in Iran and will refuse to partake in the Mullins Group services project.

Not taking into account desperate financial position of Tracer (its losses during the last year have exceeded one and a half million dollars, and the income has made one and a half thousand dollars) the company tries to agree with Turkmen authorities.

The purpose of the company is to participate in the project of development of Adzhiyap deposit in southwest of Turkmenistan.

For this purpose the company has signed the contract on creation of the joint venture with American Canneft Inc.

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