Feb 27, 2016, 10:42 AM
Iran ready to sign $20bn oil deal

TEHRAN, Feb. 27 (MNA) – IOOC managing director has announced that oil investment opportunities worth 20 billion dollars are available in the Persian Gulf.

Managing Director of the Iranian Offshore Oil Company (IOOC) Saeid Hafezi described the most important oil and gas investment opportunities in the Persian Gulf region stating “currently, various talks have been conducted with European and Asian companies over the implementation of new oil and gas projects in the Persian gulf as well as Strait of Hormuz.”

Hafezi highlighted that negotiations have been held with Italy's Eni, France’s Total as well as an Austrian company; “despite consultations, no contract has been sealed yet.”

The official further said the value of investment opportunities in the oil and gas industries in the Persian Gulf reaches about 15 to 20 billion dollars; “a portion of the investment pertained to the expansion of new oil and gas fields which is being pursued by Pars Oil and Gas Company (POGC).”

“Meanwhile, the rest of the negotiations deal with development of old and ongoing fields,” underlined the official asserting “the most important goals include increasing the recovery factor of production in compliance with the preservation principles.”

Hafezi also described some new investment opportunities in Iran’s oil and gas industry including expansion of Soroush, Norouz, Abuzar,Hengam, Doroud in addition to a number of other joint oil and gas fields.

IOOC managing director had previously said all new oil projects will be carried out with increased harvest from joint fields as top priority.




News Code 114801


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